Lee Company manufactures custom chair covers. Most of the companys chair covers are sold on the basis of catalog prices. At December 31, 2018, the following chair covers appear in the companys inventory.

Chair Cover types: Medals Pretty Decal Pokman Billy

2018 catalog selling price $800 $780 $460 $250

LIFO cost per inventory list 750 750 500 250

Estimated current cost to manufacture 710 680 400 260

Sales commissions and estimated other

costs of disposal 50 50 30 20

2018 catalog selling price 860 800 600 260

The 2018 catalog was in effect through August 2018, and the 2018 catalog is effective as of September 1, 2018. All catalog prices are net of the usual discounts. Generally, the company attempts to obtain a 25% gross profit on selling price and has usually been successful doing so.

A. At what amount should each of the four chair covers models appear in the companys December 31, 2018, inventory, assuming that the company has adopted a LIFO, lower-of-cost-or-market approach for valuation of inventories on an individual-item basis?

B. Assume the same facts in Problem A above but that the company uses FIFO and needs to compute ending inventory using Lower of Cost of Net Realizable Value. Show your computations of ending inventory at LCNRV.