Calculate the lower-of-cost-or-market using the individual-item approach for:Item A, Item B, Item C, Item D, Item E Pronghorn Co. follows the practice of valuing its inventory at the lower-of-cost-or-market. The following information is available fromthe company's inventory records as of December 31, 2025.ItemACBUDEQuantity(a)1,6001,3001,5001,5001,900Unit Cost$9.009.846.724.567.68ReplacementCost/Unit$10.089.486.48105.047.56Estimated SellingPrice/Unit$12.60O Search11.288.647.568.04Completion & DisposalCost/Unit$1.80CO1.08DELL1.380.960.84Greg Forda is an accounting clerk in the accounting department of Pronghorn Co., and he cannot understand why the market valuekeeps changing from replacement cost to net realizable value to something that he cannot even figure out. Greg is very confused, andhe is the one who records inventory purchases and calculates ending inventory. You are the manager of the department and anaccountant.Normal ProfitMargin/Unit$2.161.44Calculate the lower-of-cost-or-market using the individual-item approach. (Round answers to 2 decimal places, e.g. 78.73.)C0.721.801.20

Name: Calculate the lower-of-cost-or-market using the individual-item approa
Uploaded: 2024-03-20T06:32:37.000Z
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Description: Calculate the lower-of-cost-or-market using the individual-item approach for:Item A, Item B, Item C, Item D, Item E Pronghorn Co. follows the practice of valuing its inventory at the lower-of-cost-or-market. The following information is available fro