The Collins Company has five inventory items on hand at the end of the year. The year-end selling prices, and estimated costs of completion, disposal, and transportation (selling costs) for each of the items are given below The normal profit margin for each of the products is 10% of the selling price These amounts are used to calculate the ceiling and floor as follows: Items NRV (Ceiling) Selling Estimated Price Selling Costs 7,500 Normal Profit Margin (10% of Selling Price) $ 50,000 $ B$ 60,000 $ A n $ 45,000 $ D $ 50,000 $ E $ 55,000 $ O A $ 25,000 $ B$ 50,000 $ C$ 40,000 $ Replacement Cost $ 45,000 $ Additional information related to year-end inventory cost (determined by applying the LIFO cost method) and replacement cost are given below Items Cost NRV (Ceiling) E $ 47,500 5 Total $207,500 By Individual Items 27,500 15,000 48.500 35,000 47,500 Inventory 7,500 7,500 7,000 NRV-NPM Adjusting Entry NRV-NPM Market LCM