QUESTION 17 A company has the following per unit original costs and replacement costs for its inventory: Part A: 50 units with a cost of $5 and replacement cost of $4.50. Part B: 75 units with a cost of $6 and replacement cost of $6.50. Part C: 160 units with a cost of $3 and replacement cost of $2.50. Under the lower of cost or market method applied to individual items, the total value of this company's ending inventory must be reported as: QUESTION 18 See #17 above. Calculate LCM if applied to inventory as a whole? which means Net Income will be QUESTION 19 If Ending Inventory is overstated, COGS will be understated overstated