Lower of Cost or Market Stiles Corporation uses the lower of cost or market rule for each of two products in its ending inventory. A profit margin of 30% on the selling price is considered normal for each product. Specific data for each product are as follows Product A Product B Historical cost Replacement cost Estimated cost of disposal Estimated selling price Required: 1. Assume that Stiles uses the FIFO inventory method. What is the correct inventory value for each product? $80 70 32 150 $96 98 30 120 Product A 80 per unit Product B 90 per unit 2. Assume that Stiles uses the LIFO inventory method. What is the correct inventory value for each product? Product A 66 X per unit Product B 91 X per unit