Solution-At what amount per unit should product be reported

At what amount per unit should product be reported

Reference no: EM132726939

Question - Ivanhoe Company sells product 2005WSC for $105 per unit. The cost of one unit of 2005WSC is $102, and the replacement cost is $101. The estimated cost to dispose of a unit is $6, and the normal profit is 40% of selling price. At what amount per unit should product 2005WSC be reported, applying lower-of-cost-or-market?

a. $101.

b. $102.

c. $99.

d. $57.

Reference no: EM132726939

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At what amount per unit should product be reported

Reference no: EM132726939

Reference no: EM132726939

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