Southern Inc. sells product ZZ for $40 per unit. The cost of one unit of...
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Accounting
Southern Inc. sells product ZZ for $40 per unit. The cost of one unit of ZZ is $36 and the replacement cost is $28. The estimated cost to dispose of a unit is $14 and the normal profit margin is 40%. At what amount per unit should product ZZ be reported applying lower-of-cost-or-market?
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