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 Product 1 $ 36 Product 2 Product 3 $106 $ 66 Replacement cost 34 101 56 Selling price 56 136 65 Selling costs 5 41 15 Normal profit margin 21 46 28 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 Product Cost NRV NRV - NP Market cost 1 $ 36 34 $ 51 30 2 106 101 95 49 3 66 56 50 22 Per Unit Inventory Value