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Data related to the inventories of Kimzey Medical Supply are presented below: Selling price Cost Replacement cost Costs to sell Normal gross profit ratio Surgical

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Data related to the inventories of Kimzey Medical Supply are presented below: Selling price Cost Replacement cost Costs to sell Normal gross profit ratio Surgical Equipment $295 205 275 Surgical Supplies $155 125 115 12 20% Rehab Equipment $375 285 270 32 Rehab Supplies $200 197 193 24 30% 44 20% 20% In applying the lower of cost or market rule, the inventory of surgical equipment would be valued at: Multiple Choice $251. $205. $275. $192

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