Kyle, Inc. is a manufacturer of high-quality handbags and belts. The company sells its finished products through its own retail stores. The following table gives data pertinent to items included in Kyles inventory at December 31,2020.

30 Question 6 112 points) Kyle, Inc. is a manufacturer of high-quality handbags and belts. The company sells its finished products through its own retail stores. The following table gives data pertinent to items included in Kyle's inventory at December 31, 2020. Handbags Belts Units in ending inventory 100,000 50,000 Cost $160 $160 Selling price $180 $340 Replacement cost $140 $140 Estimated cost to sell $20 $68 Normal Profit Margin $36 $100 a. Calculate the amount of inventory write-down (if any) that Kyle Inc. will include on its 2020 income statement if Kyle Inc. applies Lower of Cost or Net Realizable Value on an individual item basis and on a total inventory basis. [6 points] Individual Total Write-down b. Calculate the amount of inventory write-down (if any) that Kyle Inc. will include on its 2020 income statement if Kyle Inc. applies Lower of Cost or Market on an individual item basis and on a total inventory basis. 16 points) Individual Total Write-down