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At what amount per unit should product XYZ be reported

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Question - Shell Company sells product XYZ for $20 per unit. The cost of one unit of XYZ is $15, and the replacement cost is $17. The estimated cost to dispose of a unit is $4, and the normal profit is 40% of selling price. At what amount per unit should product XYZ be reported, applying lower-of-cost-or-market?

Reference no: EM132734167

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