Question: please show work Cullumber Company uses the FIFO method to cost its inventory. At December 31,2025 , its finished goods inventory had a cost of

please show work please show work Cullumber Company uses the FIFO method to cost its

Cullumber Company uses the FIFO method to cost its inventory. At December 31,2025 , its finished goods inventory had a cost of $37000. The expected selling price was $48000. The company incurs selling costs of 25% of the expected selling price. Cullumber will report the inventory on its December 31,2025 balance sheet at $37000$36000$48000$60000

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