M. In accordance with Generally Accepted Accounting Principles, Bust-a-Move Snowboard must record their inventory in accordance with the Lower Cost or Market concept. Use the indirect method when recording your proposed entry. Inventory is inclusive of the following: Replacement Profit Inventory Item # of Items Cost Cost Selling Price Costs to Sell Margin Bindings 58 $ 52.00 $ 55.00 $ 65.00 $ 5.00 23% Snowboards 345 $131.00 $ 127.50 $ 250.00 / S 15.00 48% Boots 144 $ 41.00 $ 55.00 $ 55.50 $ 5.00 28% Helmets 1,000 $25.00 S 20.00 $ 35.00 15 2.50 29%