Question (3 points) Costs incurred internally to create intangibles are generally expensed only if they have a limited life O capitalized as incurred. expensed as incurred. O capitalized only if they have an indefinite life. Quest Co. applies the lower-of-cost-or-market (LCM) rule to value one of its products H. Related information is as follows: Cost of His $86; estimated selling price for His $100; estimated selling expense for His $16; the replacement cost for His $88 and the normal profit for His $32. What amount of ending inventory should be reported for product H under the LCM rule? $88. $86. $52. $84