The December 31, 2017 inventory of Gwynn Company consisted of four products, for which certain information is provided below Estimated Normal Profit on Sales Replacement Disposal Expected Product Original Cost Cost $22.00 $40.00 $115.00 $15.80 Selling Price $24.00 $42.00 $120.00 $19.00 Cost $6.50 $10.00 $25.00 $4.00 20% $40.00 $48.00 $190.00 $26.00 25% 10% Using the lower-of-cost-or-market approach applied on an individual-item basis, compute the inventory valuation that should be reported for each product on December 31, 2017 Product