Cost 8) Following are data pertaining to inventory of LCM Cheese Corp. Item Replacement cost Sales price Cameras $110 $105 $120 Stereos $76 $94 Computers $201 $205 $220 Printers $148 $135 $160 $77 Completion cost $10 $5 $13 $10 Cost of disposal $3 $4 $4 $5 Normal profit margin $12 $5 $9 S8 LIFO As some of the cheese is losing shelf life, it needs to be written down to lower of cost or market. For each item, determine whether cost is lower or market is lower, and enter the correct value in the space provided. Make calculations assuming inventory is costed under (a) LIFO; (b) FIFO or Average IMPORTANT: Makes sure to enter the results in the spaces provided. You can use the table below to work out your answers. pain) Item Under Which is lower? Value Cameras Stereos LIFO Computers LIFO LIFO Cameras FIFO/Ave Stereos FIFO/Ave Computers FIFO/Ave Printers FIFO/Ave Printers