How market is defined as

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Question 1: When testing for Lower of Cost or Market, Market is defined as:

Group of answer choices

Option 1: Net realizable value less a normal profit margin

Option 2: Replacement cost not to exceed Net Realizable value less a normal profit

Option 3: Replacement cost not to exceed the ceiling and not to drop below the floor

Option 4: Net Realizable Value

Reference no: EM132573015

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