Problem I (2 points) ABC Company had the following inventory at year-end: Cost NRV Product A 2,200,000 2,500,000 Product B 1,500,000 1,200,000 Product C 650,000 530,000 Product D 720,000 710,000 What amount should be reported as inventory at year-end? Problem J (2 points) On June 29, 20x1, a fire damaged the warehouse and factory of an entity completely destroying the unisured merchandise inventory. The following data are available: Inventory, January 1 Purchases, January 1 June 29 Sales, January 1 - June 29 Markup based on cost 60,000 580,000 770,000 25% How much is the estimated inventory fire loss