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Inventory Write$-$Down

Stiles Corporation uses the FIFO cost flow assumption and is in the process of applying the LCNRV rule for each of two products in its ending inventory. A profit margin of $30\%$ on the selling price is considered normal for each product. Specific data for each product are as follows:

Product A Product B

Historical cost $$80$ $$95$

Replacement cost $7198$

Estimated cost of disposal $3129$

Estimated selling price $150120$