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Given the historical cost of product Z is $32, the selling price of product Zis $37, costs to sell product Z are $4, the replacement

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Given the historical cost of product Z is $32, the selling price of product Zis $37, costs to sell product Z are $4, the replacement cost for product Z is $33, 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? 40 $33. O $33 O $29. O $32

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