What is amount that should be used to value inventory

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Reference no: EM13137930

Given the historical cost of product Z is $160, the selling price of product Z is $190, costs to sell product Z are $21, the replacement cost for product Z is $166, and the normal profit margin is 40% of sales price, what is the amount that should be used to value the inventory under the lower-of-cost-or-market method?

Reference no: EM13137930

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