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The following information is available regarding each unit

The following information is available regarding each unit of Brown Corporation's inventory:

Selling price ......... $5,000
Costs of completion ...... 275
Current replacement cost .... 2,000
Normal profit margin .... 2,500

Based on this information, determine the ceiling and the floor for each unit of Brown Corporation's inventory.

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Accounting Basics: The following information is available regarding each unit

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