Apply the lower-of-cost-or-market rule. (LO 5)
Use the following data to answer the following question.
| Ending inventory at cost, June 30, 2010 | $25,18 |
| Cost of goods sold, balance at June 30, 2010 | 25,130 |
| Sales revenue, balance at June 30, 2010 | 150,550 |
| Cash, balance at June 30,2010 | (75 5) |
| Ending inventory at replacement cost, June 30, 2010 | 285,155 |
ASB Hardware Inc. uses a perpetual inventory system and the FIFO cost flow method to account for its inventory. What inventory amount will ASB Hardware report on its balance sheet at June 30, 2010?
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