herman company has three products in its ending inventory. specific per unit data at the end of the year for each of the products are as follows: product 1 product 2 product 3 cost $ 40 $ 110 $ 70 replacement cost 38 105 60 selling price 60 140 74 selling costs 5 48 12 normal profit 25 50 32 required: what unit values should herman use for each of its products when applying the lower of cost or market (lcm) rule to ending inventory
