can you please answer both question i woukd guve thumbs up. i would give thumbs thank you

Marin Co, follows the practice of valuing its inventory at the lower-of-cost-or-market. The following information is available from the company's inventory records as of December 31, 2020. Estimated Completion & Normal Unit Replacement Selling Disposal Profit Item Quantity Cost Cost/Unit Price/Unit Cost/Unit Margin/Unit A 1,200 $7.58 $8.48 $10.61 $1.52 $1.82 B 900 8.28 7.98 9.49 0.91 1.21 1,100 5.66 5.45 7.27 1.16 0.61 D 1,100 3.84 4.24 6.36 0.81 1.52 E 1,500 6.46 6.36 6.77 0.71 1.01 Greg Forda is an accounting clerk in the accounting department of Marin Co., and he cannot understand why the market value keeps changing from replacement cost to net realizable value to something that he cannot even figure out. Greg is very confused, and he is the one who records inventory purchases and calculates ending inventory. You are the manager of the department and an accountant. (a) Calculate the lower-of-cost-or-market using the individual-item approach. Lower-of-Cost-or-Market (Per unit basis) Item A Item B Item C Item D Item E Question 12 On January 1, a store had inventory of $52,500. January purchases were $49,000 and January sales were $95,000. On February 1 a fire destroyed most of the inventory. The rate of gross profit was 25% of cost. Merchandise with a selling price of $7,000 remained undamaged after the fire. Compute the amount of the fire loss, assuming the store had no insurance coverage. Fire loss Click if you would like to show Work for this question: Open Show Work Question Attempts: 0 of 1 used