SLR Corporation has 700 units of each of its two products in its year-end inventory. Per unit data for each of the products are as follows: Cost Replacement cost Selling price Selling costs Normal profit Product 1 $60 58 80 16 20 Product 2 $44 36 46 8 12 Determine the carrying value of SLR's inventory assuming that the lower of cost or market (LCM) rule is applied to individual products. What is the before-tax income effect of the LCM adjustment? Complete this question by entering your answers in the tabs below. Required 1 Required 2 What is the before-tax income effect of the LCM adjustment? Before-tax income effect