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Question 11 View Policies Current Attempt in Progress Pharoah Company sells product 2005WSC for $60 per unit. The cost of one unit of 2005WSC is

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Question 11 View Policies Current Attempt in Progress Pharoah Company sells product 2005WSC for $60 per unit. The cost of one unit of 2005WSC is $57, and the replacement cost is $56. 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? $56. $30. $57. $54

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