Simple Corporation has two products in its ending inventory, each accounted for at the lower of cost or market (LCM). A profit margin of 20% of the selling price is considered normal for each product Specific data with respect to each product follows: Product #A Product #B Historical cost $18 $ 20 Replacement cost Estimated cost to dispose Estimated selling price 24 33 16 14 4 7 What unit value should Simple use for product #A in pricing its ending inventory using LCM (do not round)? Clearly identify market and the process used to identify market. In addition, clearly identify your choice of the ending inventory value. NOTE: Show your work and label your numbers. Round to two cents 7 i- T: - V I B I U S Xa ! >