Waterway Industries purchased merchandise with a list price of $152000, subject to trade discounts of 30% and 20%, with no cash discounts allowable. Waterway should record the cost of this merchandise as

$1052000. $118560. $152000. $85120.

Crane Company sells product 1976NLC for $26 per unit. The cost of one unit of 1976NLC is $26, and the replacement cost is $25. The estimated cost to dispose of a unit is $6, and the normal profit is 30% of selling price. At what amount per unit should product 1976NLC be reported, applying lower-of-cost-or-market?

$25.

$20.

$26.

$12.