Lower-of-cost-or-market.

The December 31, 2014 inventory of Gwynn Company consisted of four products, for which certain information is provided below.

	Original	Replacement	Estimated	Expected	Normal Profit
Product	Cost	Cost	Disposal Cost	Selling Price	on Sales
A	$25.00	$22.00	$6.50	$37.50	20%
B	$42.00	$40.00	$12.00	$48.00	25%
C	$120.00	$115.00	$25.00	$160.00	30%
D	$16.00	$15.80	$3.00	$22.00	10%

Instructions

Using the lower-of-cost-or-market approach applied on an individual-item basis, compute the inventory valuation that should be reported for each product on December 31, 2014.