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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 $83.47. Net realizable value less a

The Company uses the lower-of-cost-or-market approach. The replacement cost of an inventory item is $75.00. Net realizable value is $83.47. Net realizable value less a normal profit margin is $65.00. The cost of the item is $76.95. The inventory item would be valued at: $83.47. $65.00. $75.00. $76.95

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