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Numerical problems (40 points) - Show all your work. [Problem 1: 20 points] The December 31, 2020 inventory of Gwynn Company consisted of two products, for which certain information is provided below. Replacement Estimated Expected Normal Profit Product Original Cost Cost Disposal Cost Selling Price on Sales $25.00 $20.00 $6.00 $30.00 15% $33.00 $34.00 $5.00 $40.00 10% Compute the inventory valuation that should be reported for each product on December 31, 2020 based on the following method. (1) The lower-of-cost-or-net realizable value (LCNRV) (2) The lower-of-cost-or-market (LCM)