Select one: a. \$0 b. $3,200 c. $16,000 d. $51,200

Ward Distribution Company has determined its year-end inventory on a LIFO basis at $320,000. Information pertaining to that inventory follows. Item Estimated selling price Amount $332,800 Estimated cost of disposal 1 6,000 Normal profit margin 48,000 Current replacement cost 304,000 What is the loss that Ward should recognize? Assume no previously recorded inventory holding loss. Select one: O O O b. $3,200 c. $16,000 d. $51,200