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Show your work thanks Splish Co. follows the practice of valuing its inventory at the lower-of-cost-or-market. The following information is available from the company's inventory

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Splish Co. follows the practice of valuing its inventory at the lower-of-cost-or-market. The following information is available from the company's inventory records as of December 31, 2017. Completion & Disposal Cost/Unit Estimated Normal Profit Replacement Selling Item Quantity Unit Cost Cost/Unit Margin/Unit 1,800 1,500 1,700 1,700 2,100 $8.03 8.77 5.99 4.07 6.85 $8.99 8.45 5.78 4.49 6.74 Price/Unit $11.24 10.06 7.70 6.74 7.17 $1.61 0.96 1.23 0.86 0.75 $1.93 1.28 0.64 1.61 1.07 Greg Forda is an accounting clerk in the accounting department of Splish Co., and he cannot understand why the market value keeps changing from replacement cost to net realizable value to something that he cannot even figure out. Greg is very confused, and he is the one who records inventory purchases and calculates ending inventory. You are the manager of the department and an accountant. v (a) Your answer is incorrect. Try again. Calculate the lower-of-cost-or-market using the individual-item approach. Lower of-Cost-or-Market (Per unit basis) Item A 14454

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