Smith company's inventory cost is $100. the expected sales price is $110, estimated selling costs are $6. the normal gross profit ratio is 20% of selling price. the replacement cost of the inventory is $106. smith company uses the lifo inventory method so must use the lower of cost or market approach and this inventory item should be valued ata) $102b) $106c) $104d) $110

i would say iii (3) because in order to compare a price you have to use as a reference other near stores because it's its

hope i explained myself

two years ago, when picking flowers in the mountains back of yosemite valley, i found a book. it was blotted and storm-beaten; all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however; many of the inner pages were well preserved. and although all were more or less stained and torn, whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today; its granite pages have been torn and blurred by the same storms that wasted the castaway book.

two years ago, when picking flowers in the mountains back of yosemite valley; i found a book. it was blotted and storm-beaten, all of its outer pages were mealy and crumbly. the paper seemed to dissolve like the snow beneath which it had been buried, however, many of the inner pages were well preserved. and although all were more or less stained and torn; whole chapters were easily readable. this is the condition of the great open book of yosemite glaciers today, its granite pages have been torn and blurred by the same storms that wasted the castaway book.