Pharoah Company uses LIFO and a perpetual inventory system for its leading product. Z. Given the historical cost of product Z is $26. the selling price of product Z is $31, costs to sell product Z are $3, the replacement cost for product Z is $27, and the normal profit margin is 4098 of sales price, what is the amount that should be used to value the inventory under the lower-of-cost-or-market. method? $26 $24 $28 $27