Herman Company has three products in its ending inventory. Specific per unit data at the end of the year for each of the products are as follows: Cost Replacement cost Selling price Selling costs Normal profit Product 1 $ 31 29 51 8 16 Product 2 $101 96 131 30 41 Product 3 $ 61 51 65 9 23 Required: What unit values should Herman use for each of its products when applying the lower of cost or market (LCM) rule to ending inventory? Product Cost Replacement cost NRV NRV - NP Market Per Unit Inventory Value 1 $ 31 $ 29 2 101 96 3 61 51