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: Product 1 Product 2Product 3 Cost Replacement cost Selling price Selling costs Normal profit margin $110 105 140 48 50 $ 70 60 74 12 32 $ 40 38 60 25 Required: What unit values should Herman use for each of its products when applying the lower of cost or market (LCM) to ending inventory? Replacement cost Per Unit Market Inventory Value Product Cost NRV NRV - NP 40 $ 40 110 70 2 70