Northridge Company has two products in its inventory. Information about the December 31, 2023, inventory is as follows: Product Total Cost Total Replacement Cost Total Net Realizable Value 101 $120,000 $110,000 $100,000 102 90,000 85,000 110,000 The normal profit is 20% of total cost. Determine the carrying value of inventory at December 31, 2023, assuming the lower of cost or market (LCM) rule is applied to individual products