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Kitchen Appliances has a product in it's ending inventory that management worries is overvalued. Per unit data consist of the following: cost, $24; replacement cost,
Kitchen Appliances has a product in it's ending inventory that management worries is overvalued. Per unit data consist of the following: cost, $24; replacement cost, $22; selling price, $34; selling costs, $5. The normal profit margin is 25% of selling price. What unit value should Kitchen Appliances use when applying the lower of cost or market rule to this product? Unit value
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