Question 2 Not complete Marked out of 1,00 P Flag question Lower-of-Cost-or-Market (LCM) Method The following data are taken from the Simpson Corporation's inventory accounts: Item Unit Replacement Code Quantity Cost Cost Product 1 ZKE 100 $22 ZKE 300 33 Product 2 MN 400 22 MNS 250 33 Calculate the value of the company's ending inventory using the lower-of-cost or market method applied to each item of inventory. Applying the lower-of-cost-or-market method to each item of the inventory results in an ending inventory amount of Check O Previous Save Answers