BE9-2 Floyd Corporation has the following four items in its ending inventory.
Replacement Net Realizable NRV less
Item Cost Cost Value (NRV) Normal Profit Margin
Jokers $2,000 $2,050 $2,100 $1,600
Penguins 5,000 5,100 4,950 4,100
Riddlers 4,400 4,550 4,625 3,700
Scarecrows 3,200 2,990 3,830 3,070
Determine the final lower-of-cost-or-market inventory value for each item.
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