Question: In applying lower - of - cost - or - market, the designated market value is net realizable value less a normal profit margin. the

In applying lower-of-cost-or-market, the designated market value is
net realizable value less a normal profit margin.
the lower of net realizable value or replacement cost.
the midafe value of replacement cost, net realizable value and net realizable value less a normal profit margin.
the higher of replacement cost or net realizable value less a normal profit margin.
In applying lower - of - cost - or - market, the

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