Homework: Chapter 10 Homework Score: 0 of 1 pt 15 of 20 (12 complete) BE10-13 (similar to) Smith Clothing Company manufactures two types of raincoats-Regular and Stain Resistant. Information related to both products is presented in the following table. (Click the icon to view the table.) Determine the ending inven lower-of-cost-ar-market rule approach to LCM. (Assume Begin by determining the ending inventory value per unit and the lower-of-cost-of-market value per unit. (Abbreviations used: NRV = Net Realizable Val Current Normal Replacement Selling Disposal Profit NRV NRV - NP LIFO Group Price Costs Margin (Ceiling) (Floor) Regular Cost Market Cost LCM (12 complete) HW Score: 54.55%, 12 of Question Help Determine the ending inventory value per unit and the amount of any write-downs per unit using the lower-of-cost-or-market rule assuming that Smith Clothing uses the LIFO costing method and the group-by-group approach to LCM. (Assume that Smith Clothing Company is a U.S. GAAP reporter.) used: NRV = Net Realizable Value, NP = Normal Profit Margin) LCM De amou lower-of-cost-or-market rule assuming that Smith Clothing us approach to LCM. (Assume that Smith Clothing Company is mit and the lower-of-cost-or-market value per unit. (Abbreviations used: NRV = Net Realizable Value, NP = Normal Profit Margin) Normal Profit NRV NRV - NP LIFO Mar Data Table Current Normal Profit Group Cost Replacement Cost $ 160 Selling Price $ 220 Disposal Costs $ 18 Margin 67 $ $ 112 Regular Stain Resistant 350 320 34 49 294 Print Done ck Check Answer. Clor All