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Max Company sells furniture. At year-end, Max uses the FIFO method to value its inventory...

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Accounting

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Max Company sells furniture. At year-end, Max uses the FIFO method to value its inventory and got the following results for its ending inventory. Number of Units Cost per unit Wall Units 800 $200 Chairs 200 $160 Tables 400 $150 The net realizable value of each of these products at year-end was Wall Units $190 per unit Chairs $150 per unit Tables $170 per unit. If Max prepares its financial statements using generally accepted accounting principles, what is the proper value of the inventory to be reported on the year-end balance sheet? $252,000 $260,000 $242,000 $250,000

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