Current Attempt in Progress

The replacement cost of an inventory item is $$89.$ Net realizable value is $$98\mathrm{.}58.$ Net realizable value less a normal profit margin is $$88\mathrm{.}96.$ The cost of the item is $$99.$ The designated market value used in applying lower$-$of$-$cost$-$or$-$market is

$$88\mathrm{.}96.$

$$99.$

$$89.$

$$98\mathrm{.}58.$