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Morris Company uses the lower of cost or market rule and applies it using the LIFO method in valuing its inventory. The floor constraint for

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Morris Company uses the lower of cost or market rule and applies it using the LIFO method in valuing its inventory. The floor constraint for one in the inventory is 168.20. The following is other information concerning this unit: Transportation costs $4.00 Normal profit margin 12.70 Packaging costs 4.20 The net realizable value for this item is 372.00 576.40 $5.50 S.20

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