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7. Oslo Corporation has two products in its ending inventory, each accounted for at the lower of cost or market. A profit margin of 30%

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7. Oslo Corporation has two products in its ending inventory, each accounted for at the lower of cost or market. A profit margin of 30% on selling price is considered normal for each product. Specific data with respect to each product follows: Product #1 Product #2 Historical cost $10 S 18 Replacement cost 11 14 Estimated cost to dispose 3 7 Estimated selling price 20 33 In pricing its ending inventory using the lowerofcostormarket, what unit values, rounded to the nearest dollar, should Oslo use for products #1 and #2, respectively? a. $10 and $16. b. $13 and $16. 0. $13 and $15. d. $11 and $14. 6. $11 and $16

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