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The following information pertains to one item of inventory of the Simon Company: Per unit...

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Accounting

The following information pertains to one item of inventory of the Simon Company: Per unit Cost $ 200 Replacement cost 170 Selling price 190 Disposal costs 10 Normal profit margin 30 Using the lower of cost or market, this item should be valued at:

A/$150

B/$200

C/$170

D/$190

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