Inventory Write-Down Byron Company has five products in its inventory and uses the FIFO cost flow assumption. Specific data for each product are as follows: Product A B Cost $90,000 110,000 60,000 100,000 105,000 Selling Price $150,000 120,000 70,000 115,000 110,000 Estimated Cost of Disposal $20,000 15,000 5,000 5,000 8,000 D E Required: 1. What is the correct inventory value, assuming the LCNRV rule is applied to each item of inventory? Product Inventory Value A $ B D E Total 2. What is the correct inventory value, assuming the LCNRV rule is applied to the total of inventory