1. Remmers Company manufactures desks. The company attempts to obtain a 20% gross margin on selling price. At December 31,2023 , the following finished desks appear in the company's inventory. The 2023 catalog is effective as of December 31,2023 , Part A. At what amount should each of the three desks (B, C, and D) appear in the company's December 31, 2023, inventory, assuming that the company has adopted a lower-of-FIFO-cost-or-net realizable value approach for valuation of inventories on an individual-item basis? Part 8. At what amount should each of the three desks (B, C, and D) appear in the company's December 31, 2023, inventory, assuming that the company has adopted a lower-of-FIFO-cost-or-market approach for valuation of inventories on an individual item basis? 2. Utley C0, prepares monthly income statements. Inventory is counted only at year end; thus, month-end inventories must be estimated. The rate of mark-up on cost is 20%. The following information relates to the month of May. Instruction: Calculate the estimated cost of the inventory on May31. 3. When you undertook the preparation of the financial statements for Telfer Company at January 31, 2023, the A7 following data were available: 48 49 30 51 37 5) s 56 : 17. inifuctions: Coropute the ending inventory at cost as of January 31, 2023, using the retail method which approximates lower of most or market