Abbit co uses lifo for it's inventory valuation. given the historical cost of product z is $60, the selling price of product z is $50, costs to sell product z are $6, the replacement cost for product z is $41, and the normal profit margin is 40% of sales price, what is the amount that should be used to value the inventory?

Which of the following statements is correct? stockholders should generally be happier than bondholders to have managers invest in risky projects with high potential returns as opposed to safe projects with lower expected returns. potential conflicts between stockholders and bondholders are increased if a firm's bonds are convertible into its common stock. takeovers are most likely to be attempted if the target firm’s stock price is above its intrinsic value. one advantage of operating a business as a corporation is that stockholders can deduct their pro rata share of the taxes the firm pays, thereby eliminating the double taxation investors would face in a partnership.