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13) TAD, Inc. uses the LIFO-lower of cost or market method to value inventory. If...

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Accounting

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13) TAD, Inc. uses the LIFO-lower of cost or market method to value inventory. If the inventory value is replacement cost, which one of the following statements is true? A) Historical cost is less than replacement cost. B) Replacement cost is greater than net realizable value less a normal profit margin. C) Replacement cost is greater than historical cost. D) Net realizable value is greater than historical cost

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