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Chicago Corporation has 3 products in its ending inventory. Information for the products is as follows: Cost Selling Price Selling Costs Normal Profit Replacement Cost

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Chicago Corporation has 3 products in its ending inventory. Information for the products is as follows: Cost Selling Price Selling Costs Normal Profit Replacement Cost Product A $50 $80 $10 $15 $54 Product B $95 $120 $40 $30 $85 Product C $65 $70 $20 $15 $40 Assume that Chicago Corporation uses LIFO to determine its Ending Inventory and COGS. What amount should be shown for each product in the balance sheet? (do not use dollar signs, commas, or decimals in your answer). What amount should be recognized for Product A in the financial statements? A What amount should be recognized for Product B in the financial statements? A What amount should be recognized for Product C in the financial statements? A Chicago Corporation has 3 products in its ending inventory. Information for the products is as follows: Cost Selling Price Selling Costs Normal Profit Replacement Cost Product A $50 $80 $10 $15 $54 Product B $95 $120 $40 $30 $85 Product C $65 $70 $20 $15 $40 Assume that Chicago Corporation uses LIFO to determine its Ending Inventory and COGS. What amount should be shown for each product in the balance sheet? (do not use dollar signs, commas, or decimals in your answer). What amount should be recognized for Product A in the financial statements? A What amount should be recognized for Product B in the financial statements? A What amount should be recognized for Product C in the financial statements? A

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