E6-10A. Lower-of-Cost-or-Market (LCM) Method The following data are taken from the Browning Corpo- ration's inventory accounts: Item Code Quantity Unit Cost Replacement Cost ACE BDF GHJ MBS 100 $27 $24 300 29 31 400 221 18 200 24 27 Calculate the value of the company's ending inventory using the lower-of-cost-or-market method ap- plied to each item of inventory. LO4