Madison Co. has determined its year-end Inventory on a LIFO basis to be $614,000. Information pertaining to that inventory is as follows: 48 Selling price Costs to sell Normal profit margin Replacement cost $734,000 36,900 87,000 634,000 What should be the reported value of Madison's inventory? Multiple Choice O 610100 Data related to the inventories of Mountain Ski Equipment and Supplies is presented below: 22 Skis $197,000 136,500 137,000 20% 30% Selling price Cost Replacement cost Sales commission Normal gross profit ratio Boots $167,000 141,500 131,700 20% 3ex Apparel $137,000 98,500 127,000 20% 25% 02.51.29 Supplies $77,000 56,500 67,000 10% 25% In applying the lower of cost or market rule, the inventory of supplies would be valued at Multiple Choice $50,050