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Konan, Inc. needs to determine its inventory value. The following information pertains to the individual...

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Accounting

Konan, Inc. needs to determine its inventory value. The following information pertains to the individual products in ending inventory:

Product Cost Replacement Cost Selling Price Cost of Completion Normal Profit
L-19 $40 $38 $50 $2 $11
M-23 52 40 60 10 8
N-05 20 24 30 2 6

Assuming Konan uses the LIFO method for costing its inventory, the market value for item N-05 is:

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