Brief Exercise 9-2

Floyd Corporation has the following four items in its ending inventory.

Item	Cost	Replacement Cost	Net Realizable Value (NRV)	NRV less Normal Profit Margin
Jokers	$2,162	$2,216	$2,270	$1,730
Penguins	5,405	5,513	5,351	4,432
Riddlers	4,756	4,919	5,000	4,000
Scarecrows	3,459	3,232	4,140	3,319

Determine the final lower-of-cost-or-market inventory value for each item.

Jokers	$
Penguins
Riddlers
Scarecrows