Multiple Choice
Commodity X sells for $18.00; selling expenses are $3.60; normal profit is $4.50. If the cost of Commodity X is $11.70 and the replacement cost is $10.00, the lower of cost or market is
A) $8.10
B) $9.00
C) $9.90
D) $11.70
Correct Answer:
Verified
Correct Answer:
Verified
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