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Show work 70. The following information relates to inventory item T15: Cost is $65 Selling price is $90 Cost to sell T15 it $16 Replacement

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70. The following information relates to inventory item T15: Cost is $65 Selling price is $90 Cost to sell T15 it $16 Replacement cost is $60 Normal profit margin is 20% of sales price At what amount should product T15 be valued using the lower of cost-or-market method? a. $65 b. $56 c. $60 d. $74 for $290 000 An old building

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