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Robust Inc. has the following information related to an item in its ending inventory. Packit (Product # 874) has a cost of $79, a replacement

Robust Inc. has the following information related to an item in its ending inventory. Packit (Product # 874) has a cost of $79, a replacement cost of $61, a net realizable value of $70, and a normal profit margin of $3. What is the final lower-of-cost-or-market inventory value for Packit?

$70.

$61.

$79.

$67.

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