Homework: 5-2 MyAccountingLab: Module Five Homework Save Score: 0 of 5 pts +33 of 33 (29 complete) HW Score: 69.33%, 52 of 75 pts S6-5 (similar to) Question Help It is December 31, the end of the year, and the controller of Cornell Corporation is applying the lower-of-cost-or-market (LCM) rule to inventories. Before any year-end adjustments, Cornell reports the following data: Cost of goods sold . $ 410,000 Historical cost of ending inventory, as determined by a physical count Cornell determines that the current replacement cost of ending inventory is $46,000, show what Cornell should report for ending inventory and for cost of goods sold. Identify the financial statement where each item appears. 61,000 Inventory will be reported on the at $