Question: Save Madison Co. has determined its year-end inventory on a LIFO basis to be $610,000. Information pertaining to that inventory is as follows: Selling price

Save Madison Co. has determined its year-end inventory on a LIFO basis to be $610,000. Information pertaining to that inventory is as follows: Selling price Costs to sell Normal profit margin Replacement cost $ 730,000 34,900 85,000 630,000 What should be the reported value of Madison's Inventory? Multiple Choice O $610,00 O $670,000 $695,100. $630,000

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