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 $ 24 22 44 7 9 Product $ 94 89 Cost Replacement cost Selling price Selling costs Normal profit 124 Product 3 $ 54 44 66 11 16 37 34 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 1 $ 24 $ 22 $ Per Unit NRV - NP Market Inventory Value 37 s 28s 287 $ 24 87 53 87 87 55 39 39 39 2 94 B9 3 54 44