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If Product Z cost $81 and Selling price of Z is $97 Normal...

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Question

Accounting

If Product Z cost $81

and Selling price of Z is $97

Normal profit margin is 20% of sales price

Costs to sell a unit of product Z = $12

Replacement cost is $85

What is the amount that should be used to value the inventory under the lower-of-cost-or-market method??

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