Tale Co. has determined its December 31, 2019 inventory on a FIFO basis at $980,000. Information pertaining to that inventory follows:

Estimated selling price $1,020,000

Estimated cost of disposal 40,000

Normal profit margin 120,000

Current replacement cost 900,000

Tale records losses that result from applying the lower-of-cost-or-market rule. At December 31, 2019, the loss that Tale should recognize is:

	A.	$20,000
	B.	$0
	C.	$80,000
	D.	$40,000