Question: Cullumber Distribution Co . has determined its December 3 1 , 2 0 2 5 inventory on a LIFO basis at $ 8 8 1

Cullumber Distribution Co. has determined its December 31,2025 inventory on a LIFO basis at $881000. Information about that inventory follows: Estimated selling price $910000 Estimated cost of disposal 29000 Normal profit margin 109000 Current replacement cost 801000 If Cullumber applies the lower-of-cost-or-market rule, at December 31,2025, the loss that Cullumber should recognize is $80000. $29000. $0. $14500.

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