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Ivanhoe Company sells product 2 0 0 5 WSC for ( $ 5 0 ) per unit and uses the LIFO method.

Ivanhoe Company sells product 2005WSC for \(\$ 50\) per unit and uses the LIFO method. The cost of one unit of 2005 WSC is \(\$ 47\), and the replacement cost is \(\$ 46\). The estimated cost to dispose of a unit is \(\$ 6\), and the normal profit is \(40\%\) of the selling price. At what amount per unit should product 2005 WSC be reported, applying lower-of-cost-ormarket?
\(\$ 47\).
\(\$ 46\).
\(\$ 24\).
\(\$ 44\).
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