8. The following information pertains to a flange that is carried in the inventory of a wholesaler. INFORMATION CONCERNING INVENTORY ITEM OF WHOLESALER Per Unit Original cost Replacement cost Net realizable value Net realizable value, less normal markup 3.00 1.20 2.40 1.68 What should be the carrying value per unit on the basis of lower of cost or market? (a) $1.20 (b) $1.68. (c) $2.40 (d) $3.00