Company uses the LCNRV method, on an individual-item basis, in pricing its inventory items. The inventory at December 31, 2020, consists of products D, E, F, G, H, and I. Relevant per-unit data for these products appear below. Using the LCNRV rule, determine the proper unit value for balance sheet reporting purposes at December 31, 2020, for each of the inventory items above. I NEED TO KNOW IF IM DOING IT CORRECTLY. I DO NOT KNOW WHAT TO DO WITH REPLACEMENT COST AND NORMAL PROFIT. hELP!

H10 x Jx B D E F G . j K L 2 3 Item Item Item Item Item Item 4 D E F G H I 5 Estimated selling price $240 $220 $190 $180 $220 $180 6 Cost 150 160 160 160 100 72 7 Replacement cost 240 144 140 60 140 60 8 Estimated selling exp 60 60 60 50 60 60 9 Normal profit 40 40 40 40 40 40 10 Instructions Using the LCNRV rule, determine the proper unit value for balance sheet reporting 11 purposes at December 31, 2020, for each of the inventory items above. 12 Item Item Item Item Item 13 14 Item D E F G 1 15 Cost 150 $0 16 NRV 17 LCNRV 160 $76 76 160 $50 $50 160 $120 $120 100 $80 $80 72 $120 $72 0 18 19 20