Chapter 4, Problem 15P

I need help with this problem and accounting

General accounting question

Provide correct solution and accounting question

I want the correct answer with accounting

I want the correct answer with accounting question

Oriole Company sells product 2005WSC for $55 per unit and uses the LIFO method. The cost of one unit of 2005WSC is $52, and the replacement cost is $51. The estimated cost to dispose of a unit is $6, and the normal profit is 40% of selling price. At what amount per unit should product 2005WSC be reported, applying lower-of-cost-or-market?

None

General accounting

Solve with explanation and accounting