Question: D 5 pts Question 17 Madison Co. has determined its year-end inventory on a LIFO basis to be $600,000. Information pertaining to that inventory

D 5 pts Question 17 Madison Co. has determined its year-end inventory on a LIFO basis to be $600,000. Information pertaining to that inventory is as follows: Selling price Costs to sell Normal profit margin Replacement cost $720,000 30,000 80,000 620,000 What should be the reported value of Madison's inventory? $690,000. $620,000. $610,000. $600,000

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