Valuing Inventory at Lower-of-Cost-or-Market Gard Inc. has compiled the following information related to its five products. Costs of disposal are estimated to be 10% of selling price, and gross profit is estimated to be 25% of the selling price. Determine the value of inventory applying the lower-of-cost-or-market rule to each individual inventory item. Note: Round each amount to the nearest dollar. #1 #2 #3 #4 #5 $660 $760 $820 $1,000 $1,300 450 480 600 630 900 Estimated selling price Original cost (LIFO) Replacement cost Inventory at the lower-of-cost-or-market $ 500 700 490 660 830 0 $ 0 $ 0 $ 0 $ 0