Practice Problem 9-1 (Part Level Submission) Larkspur, Inc. values its inventory at the lower-of-LIFO-cost-or-market. The following information is available from t the company's inventory records as of December 31, 2017 Estimated Selling Normal Profit Completion & Unit Replacement Disposit Margin/Unit Item Quantity Cost Cost/Unit Cost/Unit 9,996 $12.25 X512 4,851 6.86 X682 17,64018.62 Z19512,250 13.97 8,428 11.76 X490 $11.71 7.35 18.23 13.72 12.50 $13.72 8.72 30.92 19.40 13.67 $2.94 0.25 3.19 1.37 2.06 $3.33 1.76 8.82 5.64 1.08 Z846 (a) Calculate the lower-of-cost-or-market using the individual-item approach Lower-of-Cost-or-Market (Per unit basis) X490 X512 X682 X195 x846