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Given the historical cost of product Dominoe is $71, the selling price of product Dominoe is $75, costs to sell product Dominoe are $3, the

Given the historical cost of product Dominoe is $71, the selling price of product Dominoe is $75, costs to sell product Dominoe are $3, the replacement cost for product Dominoe is $78, and the normal profit margin is 20% of sales price, what is the cost amount that should be used in the lower-of-cost-or-market comparison?

$78. $72. $71. $57.

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