Princeton Garden Supplies uses a perpetual inventory system. Princeton Garden Supplies has these account balances at December 31, 2016, prior to making the year-end adjustments: A year ago, the replacement cost of ending inventory was exist14000, which exceeded the cost of exist13,000. Princeton Garden Supplies has determined that the replacement cost of the December 31, 2016, ending inventory is exist11, 500. Prepare Princeton Garden supplies 2010 income statement through gross profit to show how the company would apply the lower-of cost or market rule to its inventories