Walmart uses the Lower-of-Cost-or-Net Realizable Value method (LCNRV), on an individual item basis, in pricing its inventory items. The inventory at December 31, 2020, consists of: iPhones, Samsung Phones, and Microsoft Phones. Relevant per unit data for these products appear below: (Per Unit) iPhone Samsung Historical Cost $500 $1,000 Microsoft $750 Selling Price $1,200 $1,300 $1,500 Cast to Sell Cost to Complete $250 $400 $500 $500 $100 $200 Using the LCNRV rule the carrying value for Microsoft Phones at December 31, 2020 would be: $750 $300 $1,200 $500 6 points Walmart's June 30 Inventory was destroyed by a hurricane January 1 inventory was $250,000 and purchases for January through June totaled $500,000. Sales revenue for the same period was $800,000. Walmart's gross profit percentage is 30%. Using the Gross Profit method, estimate Walmart's June 30 inventory that was destroyed by the hurricane $50,000 $560,000 $190,000 $240,000 6 points Target uses the retail inventory method to value its merchandise inventory. The following information is available for the current year: Cost Retail Beginning Inventory $30,000 $45.000 Purchases 190,000 260,000 Freight-in 2,500 Net Markups 8,500 Net Markdowns 10,000 Employee 1,000 Discounts Sales Revenue 205,000 What is the ending inventory at cost using the cost method? $144,785 $149,555 $150,288 *