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Question 9 The December 31, 2020 inventory of Wildhorse Company consisted of four products, for which certain information is provided below. Product Original Cost $28.00

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Question 9 The December 31, 2020 inventory of Wildhorse Company consisted of four products, for which certain information is provided below. Product Original Cost $28.00 $46.00 $128.00 $17.00 Replacement Cost $26.00 $44.00 $123.00 $15.60 Estimated Expected Disposal Cost Selling Price $5.50 $41.00 $9.00 $50.00 $22.00 $200.00 $5.00 $28.00 Normal Profit on Sales 20.00% 20.00% 30.00% 20.00% Using the lower-of-cost-or-market approach applied on an individual item basis, compute the inventory valuation that should be reported for each product on December 31, 2020. (Round answers to 2 decimal places, e.g. 52.75.) Product

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