Presented below is data relative to the 12/31/10 inventory of Lance Company

Presented below is data relative to the 12/31/10 inventory of Lance Company:

Number Units Original Cost Total Current
Item In Inventory Per Unit Original Cost Replacement Cost
A 3,000 $1.09 $3,270 $1.08
B 3,000 1.30 3,900 1.15
C 3,000 1.50 4,500 1.05
D 3,000 1.60 4,800 1.65
E 3,000 1.80 5,400 1.70
Total 15,000 $21,870

LCM
Upper Lower Inventory
Limit Limit Designated Valuation
Item ("Ceiling") ("Floor") Market (Totals)
A $1.80 $1.30 $1.09 $3270
B $1.80 $1.30 $1.30 $3900
C $1.80 $1.30 $1.50 $4500
D $1.80 $1.30 $1.65 4800
E $1.80 $1.30 $1.70 $5100
Total $21,570

Additional Data:
Selling price is $2.00/unit for all items. Disposal costs amount to 10% of selling price and a "normal" profit is 35% of selling price.

Instructions
Complete the last four columns above.


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