Information related to your Company's year-end inventory follows: Current replacement cost 450 Estimated selling price Current cost Normal profit margin Estimated cost of disposal (CPA) 395 You record losses that isult from applying the lower-of-cost-or-market (LCM) rule. ANSWER THE FOLLOWNG FOUR QUESTIONS What amount is the "floor" for LCM purposes? What amount should be used as designated market? At what amount should inventory be reported in the financial statements? What, if any, is the amount of the loss from applying LCM