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TiCo has 1,000 units of merchandise on hand at year end. Each unit cost $32, has a replacement cost of $29, has an estimated selling

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TiCo has 1,000 units of merchandise on hand at year end. Each unit cost $32, has a replacement cost of $29, has an estimated selling price of $42, has a disposal cost of $4, and has an estimated normal markup of $1". If Demo applies the lower of cost or market (LCM) rule, what is the ceiling or upper limit? $25 $28 $29 $38

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