1. Net realizable value is A) acquisition cost plus costs to complete and sell. B) selling price. C) selling price plus costs to complete and sell. D) selling price less costs to complete, sell, and transport se(C 2. When valuing raw materials inventory at lower-of-cost-or-market, what is the meaning of the term "market"? bona A) Net realizable value B) Net realizable value less a normal profit margin Replacement cost, Net realizable value, or Net realizable value less a normal profit C) margin. D) Discounted present value 3. The designated market value is always the middle value of replacement cost, net realizable value, and net realizable value less a normal profit margin. B) A) should always be equal to net realizable value. C) (0 may sometimes exceed net realizable value. D) should always be equal to net realizable value less a normal profit margin. 1o to i aniwolld sd 4. Given the acquisition cost of product Z is $27, the net realizable value for product Z is $24, the normal profit for product Z is $2, and the market value (replacement cost) for product Z is $25, what is the proper per unit inventory value for product Z applying LCM? A) $27 B) $25. C) $22 D) $24. so ton oob bal To o 01 ratillingnibg (8 tin 5. Robust Inc. has the following information related to an item in its ending inventory Product 66 has a cost of $162, a replacement cost of $155, a net realizable value of $160, and inventory value for product 66? A) $160. B) $155 C) $162. D) $152. normal profit margin of $10. What is the final lower-of-cost-or-market ol noilosteno) 1 a (A dimu vp o 1A (