Business, 18.12.2019 06:31 xxtonixwilsonxx

Lexington company sells product 1976nlc for $50 per unit. the cost of one unit of 1976nlc is $45, and the replacement cost is $43. the estimated cost to dispose of a unit is $10, and the normal profit is 40%.

at what amount per unit should product 1976nlc be reported, applying lower-of-cost-or-market?
a. $20.
b. $40.
c. $43.
d. $45.

Answers: 1

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Lexington company sells product 1976nlc for $50 per unit. the cost of one unit of 1976nlc is $45, an...

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