A company has determined its year-end inventory on a LIFO basis to be $633,000. Information pertaining...

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A company has determined its year-end inventory on a LIFO basis to be $633,000. Information pertaining to that inventory is as follows: Selling price Costs to sell $723,000 31,500 Normal profit margin 60,500 Replacement cost 623,000 What should be the reported amount of the company's inventory applying the lower-of- cost-or-market method? A company has determined its year-end inventory on a LIFO basis to be $633,000. Information pertaining to that inventory is as follows: Selling price Costs to sell $723,000 31,500 Normal profit margin 60,500 Replacement cost 623,000 What should be the reported amount of the company's inventory applying the lower-of- cost-or-market method?