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Following information is related to Product X of Zempa Company: Current replacement cost $230 Cost to distribute $42 Historical cost $215 Normal profit margin $36

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Following information is related to Product X of Zempa Company: Current replacement cost $230 Cost to distribute $42 Historical cost $215 Normal profit margin $36 Selling price $245 If lower-of-cost-or-market rule (LCM Rule) is applied, then the value of Product X that would be reported in the balance sheet is: a. $215 b. $230 c. $203 d. $167

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