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When would the replacement cost of inventory be used as the market value under the lower-of-cost-or-market method? Select one: a. Always b. When replacement cost
When would the replacement cost of inventory be used as the market value under the lower-of-cost-or-market method? Select one: a. Always b. When replacement cost is below net realizable value and above net realizable value less normal profit margin c. When replacement cost is above net realizable value d. When replacement cost is below net realizable value less normal profit margin
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