Under the FIFO method, inventory is recorded on the balance sheet at the lower of cost or: O Replacement Cost. Net Realizable Value less Normal Profit Margin. The middle of the three values listed Net Realiza Under the LIFO method,"market" for inventory is: O Net Realizable Value less Normal Profit Margin. The middle of the three values listed Net Realizable Value. Replacement Cost. Which of the following should be included in the cost of inventory (at the initial purchase date)? O Purchase price of goods Transportation to ship the goods to the company's warehouse O Tax on the goods purchased All of the items listed here should be included in the cost of inventory