Kiddie World uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available for the quarter ending September 30, 2018: Beginning inventory Net purchases Freight-in Net markups Net markdowns Net sales Cost Retail $450,000 $ 580,000 935,000 1,360,000 72,800 63,000 33,000 1,275,000 Estimate ending inventory and cost of goods sold (LIFO). (Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.)) Cost Retail Cost-to-Retail Ratio Beginning inventory Plus: Net purchases Freight-in Net markups Less: Net markdowns Goods available for sale (excluding beg. Inventory) Goods available for sale (including beg. Inventory) 0 0 0 0 Cost-to-retail percentage $ 0 Less: Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold $ 0 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 2 $ 92 87 Cost Replacement cost Selling price Selling costs Normal profit margin Product 1 $ 22 20 42 8 7 122 Product 3 $ 52 42 77 11 14 44 32 Required: What unit values should Herman use for each of its products when applying the lower of cost or market (LCM) to ending inventory? Product Cost Replacement cost NRV NRV - NP Market Per Unit Inventory Value 1 2 3