A Company Has the Following Per Unit Original Costs and Replacement

Multiple Choice

A company has the following per unit original costs and replacement costs for its inventory: Part A: 10 units with a cost of $3 and replacement cost of $2.50.
Part B: 40 units with a cost of $9 and replacement cost of $9.50.
Part C: 75 units with a cost of $8 and replacement cost of $7.50.
Under the lower of cost or market method, the total value of this company's ending inventory must be reported as:

A) $990.00.
B) $947.50.
C) $967.50.
D) $967.50 or $947.50, depending upon whether LCM is applied to individual items or the inventory as a whole.
E) $990.00 or $947.50, depending upon whether LCM is applied to individual items or to the inventory as a whole.