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Given the following information for an inventory item of the Scottsdale Corporation: Cost $102 Replacement Cost $108 Estimated Sales Price $120 Normal Profit $6

Given the following information for an inventory item of the Scottsdale Corporation: Cost $102 Replacement Cost $108 Estimated Sales Price $120 Normal Profit $6 Cost of Completion $13 Using the LCM Rule, the proper inventory amount for the balance sheet is: Select one: O a. $108 O b. $104 O c. $101 O d. $102 O e. $107

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