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When applying the lower-of-cost-or-net-realizable-value rule to inventory valuation, net realizable value refers to O current replacement cost. original cost, less physical deterioration. O estimated selling

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When applying the lower-of-cost-or-net-realizable-value rule to inventory valuation, net realizable value refers to O current replacement cost. original cost, less physical deterioration. O estimated selling price less cost to complete and sell. original cost

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