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The Company uses the lower-of-cost-or-market approach. The replacement cost of an inventory item is $75.00. Net realizable value is $84.74. Net realizable value less a

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The Company uses the lower-of-cost-or-market approach. The replacement cost of an inventory item is $75.00. Net realizable value is $84.74. Net realizable value less a normal profit margin is $67.00. The cost of the item is $76.50. The inventory item would be valued at: $76.50.$84.74.$67.00.$75.00

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