> Question 34 1.5 pts The lower-of-cost-or-market rule is applied in the same manner regardless if a company uses the FIFO, LIFO, or average cost flow assumptions. True O False Question 35 2.5 pts For a firm using LIFO that is applying the lower of cost or market, market value should not be less than replacement value. replacement value less an allowance for a normal profit margin. net realizable value less an allowance for a normal profit margin. net realizable value