Oriole Company sells product 2005WSC for $55 per unit. The cost of one unit of 2005WSC is $52, and the replacement cost is $51. The estimated cost to dispose of a unit is $6, and the normal profit is 40% of selling price. At what amount per unit should product 2005WSC be reported, applying lower-of-cost-or-market?

$27.

$49.

$51.

$52.

Given the historical cost of product Z is $21, the selling price of product Z is $26, costs to sell product Z are $3, the replacement cost for product Z is $22, 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?

$21.

$22.

$23.

$19.