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* Your answer is incorrect. The original cost of an inventory item is above the replacement cost and the net realizable value. The replacement cost
* Your answer is incorrect. The original cost of an inventory item is above the replacement cost and the net realizable value. The replacement cost is below the net realizable value less the normal profit margin. As a result, under the lower-of-cost-or-market method, the inventory item should be reported at the replacement cost. original cost. net realizable value less the normal profit margin. net realizable value
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