Answer Question B

B The December 31, 2020 inventory of Kimberly Company consisted of four products, for which certain information is provided below. Replacement Estimated Expected Normal Profit Product Original Cost Cost Disposal Cost Selling Price on Sales $25.00 $22.00 $6.50 $40.00 20% B $42.00 $40.00 $12.00 $48.00 25% $120.00 $115.00 $25.00 $190.00 30% D $18.00 $15.80 $3.00 $26.00 10% Instructions Using the lower-of-cost-or-market (LCM) approach applied on an individual-item basis, compute the inventory valuation that should be reported for each product on December 31, 2020. Show and label all the computation you make to arrive at the solution