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A company uses lower of cost or market value it's inventory data regarding an item in the inventory is as follows cost is $26, replacement
A company uses lower of cost or market value it's inventory data regarding an item in the inventory is as follows cost is $26, replacement cost $20 selling price $30, cost of completion and disposal two dollars, normal profit margin seven dollars. What is the lower of cost or market value for this item? $21, $26, $20 or $28
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