QUESTION 1 Iris Company has provided the following information regarding two of its items of inventory at year-end: (1) There are 100 units of item A, having a cost of $20 per unit and a replacement cost of 518 per unit. (2) There are 50 units of Item B, having a cost of $50 per unit and a replacement cost of $55 per unit. How much is the ending inventory using lower of cost or market on an item-by-item basis? O A 54.550 B. 54,500 OC 54.750 O D.54,300