Accounting

3. Fred's Frozen Foods Inc. uses LIFO and lower of cost or market and has the following information for its inventory as of 12/31/18 A-H Item Cost Replace ment Cost Selling Price Selling Normal Profit R34 R35 R36 R37 R38 R39 R40 $100 $95 $115 $88 $92 $108 $112 $95 $100 $115 $90 $90 $100 $118 $110 $120 $110 $100 $110 $110 $130 Costs $10 $10 $12 $8 $8 $8 $8 $5 $12 $8 $7 $7 $8 $7 Please prepare the lower of cost or market for the inventory