ACC 304 Course Great Wisdom / tutorialrank.com ACC 304 Course Great Wisdom / tutorialrank.com | Page 80

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.