17) Shipman, Inc. has 6 units in inventory on December 31. The units were purchased irn November for $200 each. The price lists from suppliers indicate the current replacement cost of the item to be $198 each. What is the effect on gross profit if Shipman values its ending merchandise inventory using the lower-of-cost-or-market rule? e gross profit would increase by $2. The gross profit would not be affected. C) The gross profit would decrease by $12. D) The gross profit would increase by $12