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Given the historical cost of product Z is $40, the selling price of product Z is $80, costs to sell product Z are $6, the replacement cost for product Z is $41, and the normal profit margin is 40% of sales
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Given the historical cost of product Z is $40, the selling price of product Z is $80, costs to sell product Z are $6, the replacement cost for product Z is $41, and the normal profit margin is 40% of sales price, what is the market value that should be used in the lower-of-cost-or-market comparison?a. $40.b. $74.c. $41.d. $42.

User Klay
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Answer:

C. $41

Step-by-step explanation:

User Rida
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