A company uses the lower-of-cost-or-market (LCM) method. They only have one inventory item. They currently carry that item at its historic cost, which is $90,000. At the end of the year 2018, the replacement cost is $88,000. The net realizable value is $120,000. The normal profit margin is $16,000. 

QUESTION: What is the designated market value? 

Answer rating: 100% (QA)

Market value net ... View the full answer