Current Attempt in Progress Sandhill Company uses LIFO and a perpetual inventory system for its leading product, Z. Given the historical cost of product Z is $30, the selling price of product Z is $35, costs to sell product Z are $3, the replacement cost for product Z is $31, and the normal profit margin is 40% of sales price, what is the amount that should be used to value the inventory under the lower-of-cost-or-market method? $31 $32 $28 $30