Given the historical cost of product Z is $ 35, the selling price of product Z is $ 40, costs to sell product Z are $ 3, the replacement cost for product Z is $ 36, and the normal profit margin is 40% of sales price, what is the market value that should be used in the lower-of-cost-or-market comparison

Slimwood corporation made sales of $ 725 million during 2018. of this amount, slimwood collected cash for $ 670 million. the company's cost of goods sold was $ 300 million, and all other expenses for the year totaled $ 400 million. also during 2018, slimwood paid $ 420 million for its inventory and $ 285 million for everything else. beginning cash was $ 110 million. carter's top management is interviewing you for a job and they ask two questions: (a) how much was carter's net income for 2018? (b) how much was carter's cash balance at the end of 2016? you will get the job only if you answer both questions correctly.