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SLR Corporation has 900 units of each of its two products in its year-end inventory. Per unit data for each of the products are as follows: Product 1 Product 2 Cost $68 $52 66 44 88 54 Replacement cost Selling price Selling costs Normal profit 24 7 28 11 Determine the carrying value of SLR's inventory assuming that the lower of cost or market (LCM) rule is applied to individual products. What is the before-tax income effect of the LCM adjustment? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Determine the carrying value of SLR's inventory assuming that the lower of cost or market (LCM) rule is applied to individual products. Product Cost Market Per Unit Inventory Value Unit Cost Lower of Cost or Market 1 2 39,600 Cost 39,600 900 900 $ Inventory value 0 $
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