Problem 3 (20 Points): Boulder, Inc. is computing its inventory at December 31, 2019. The following information relates to the five major inventory items regularly stocked for resale. Ending Inventory, Replacement Cost December 31, 2019 (Market) at December 31, Item Quantity on Hand Unit Cost when Acquired (FIFO) 2019 100 $40 $35 B 150 $50 $52 25 $100 $80 D 300 $60 $62 E 700 $15 $12 SMOA Required: (A) Using the lower of cost or market rule, compute the total valuation for each inventory item (A -E) as of December 31, 2019, and the total valuation of all inventories. (B) Discuss the lower of cost or market (LCM) in relationship with the relevance of information usefulness. O