Question 31 Given the following information for an inventory item of the Scottsdale Corporation: Not yet answered $118 Points out of 3.00 Cost Replacement Cost Estimated Sales Price Normal Profit Cost of Completion $ 98 $130 $ 6 $ 13 Flag question Using the LCNRV Rule, the proper inventory amount for the balance sheet is: Select one: a. $98 b. $124 c. $118 d. $117 e. $111 Ouestion 32 When the LIFO method is used, ending inventory is assumed to consist of: Not yet answered Points out of 3.00 Select one: a. The most recently purchased units Ob. The oldest units Flag question c. The units with the highest per unit cost d. The units with the lowest per unit cost