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 2 Cost $ 37 $107 Product 3 $ 67 Replacement cost 35 102 57 Selling price 57 137 72 Selling costs Normal profit 4 22 30 8 47 29 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 1 $ 69 2 3 Replacement cost 37 $ 107 67 Per Unit NRV NRV - NP Market Inventory Value 35 $ 53 $ 31 $ 53 $ 35 102 107 60 107 102 57 64 35 64 57