ACC 304 All Assignments ACC 304 All Assignments | Page 109

c. estimated selling price in the ordinary course of business less
reasonably predictable costs of completion and disposal and an
allowance for an approximately normal profit margin.
d. estimated selling price in the ordinary course of business less
reasonably predictable costs of completion and disposal, an allowance
for an approximately normal profit margin, and an adequate reserve for
possible future losses.
25.
Designated market value
a. is always the middle value of replacement cost, net realizable value,
and net realizable value less a normal profit margin.
b. should always be equal to net realizable value.
c. may sometimes exceed net realizable value.
d. should always be equal to net realizable value less a normal profit
margin.