The following information pertains to one item of inventory of the Simon Company:

Per unit

Cost $ 180

Replacement cost 150

Selling price 195

Costs to sell 35

Applying the lower of cost or net realizable value rule, this item should be valued at:

The following information pertains to one item of inventory of the Simon Company: Applying the lower of cost or net realizable value rule, this item should be valued at: Multiple Choice $160 $150 $195 $180