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Black Corporation uses the LIFO inventory method. Each unit of its inventory has a net realizable value of $300, a normal profit margin of $35,
Black Corporation uses the LIFO inventory method. Each unit of its inventory has a net realizable value of $300, a normal profit margin of $35, and a current replacement cost of $250. Determine the amount per unit that should be used as the market value to apply the lower of cost or market rule to determine Blacks ending inventory.
$ _______ PER UNIT
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