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At what amount per unit should inventory item be reported

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Reference no: EM132105990

Question - The following information is available:

Selling price: $45

Cost: $37

Replacement cost: $36

The estimated cost to dispose of a unit: $10

Normal profit: 20%.

At what amount per unit should this inventory item be reported, applying lower-of-cost-or-market?

Reference no: EM132105990

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