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Question - Wildhorse Company sells product 1976NLC for $20 per unit. The cost of one unit of 1976NLC is $19, and the replacement cost is $18. The estimated cost to dispose of a unit is $5, and the normal profit is 20% of selling price. At what amount per unit should product 1976NLC be reported, applying lower-of-cost-or-market?
a. $11.
b. $18.
c. $15.
d. $19.
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