Question 7 Given the historical cost of product Dominoe is $60, the selling price of product Dominoe is $65, costs to sell product Dominoe are $4, the replacement cost for product Dominoe is $59, and the normal profit margin is 20% of sales price, what is the amount that should be used to value the inventory under the lower-of-cost-or-market method? $59. $48. O $60