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What amount per unit should product be reported

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Problem 1: Pharoah Company sells product 2005WSC for $115 per unit. The cost of one unit of 2005WSC is $112, and the replacement cost is $111. 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?

Reference no: EM132835672

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