Madison Co. has determined its year-end inventory on a LIFO basis to be $600,000. Information pertaining to that inventory is as follows: Selling price $ 720,000 Costs to sell 30,000 Normal profit margin 80,000 Replacement cost 620,000 What should be the reported value of Madison's inventory?

A) $600,000.
B) $620,000.
C) $690,000.
D) $610,000.

James is an employee in the widget inspection department of xyz systems, a government contractor. james was part of a 3-person inspection team that found a particular batch of widgets did not meet the exacting requirements of the u.s. government. in order to meet the tight deadline and avoid penalties under the contract, james' boss demanded that the batch of widgets be sent in fulfillment of the government contract. when james found out, he went to the vice president of the company and reported the situation. james was demoted by his boss, and no longer works on government projects. james has a: