Presented below is data relative to the 12/31/23 inventory of Armstrong Company: Item Number of Units In Inventory Current Replacement Original Cost Per Unit Total Original Cost Cost A 2,000 $1.10 $2,200 $1.07 B 2,000 1.50 3,000 1.25 C 2,000 1.70 3,400 1.10 D 2,000 1.60 3,200 1.85 E 2,000 2.00 4,000 2.10 Total 10,000 $15,800 Additional Data Selling price is $2.00/unit for all items. Disposal costs amount to 15% of selling price and a "normal" profit is 35% of selling price. Armstrong uses the LIFO method of inventory valuation. PART A Determine the write-down to market required. Use the Individual Inventory Items Approach to LCM Valuation. (You are not required to record the adjusting entry). S PART B Repeat Part (A) assuming that Armstrong uses the FIFO method. Determine the write-down to market required. Use the Individual Inventory Items Approach to LCM Valuation. $