Nolen Company Is Preparing the Annual Financial Statements Dated December

Nolen Company is preparing the annual financial statements dated December 31 2016. Information about inventory stocked for regular sale follows: $$\begin{array} { c c c c } \text { Item } & \begin{array} { c } \text { Quantity } \\\text { on Hand }\end{array} & \begin{array} { c } \text { Unit Cost } \\\text { When Acquired }\end{array} & \begin{array} { c } \text { Replacement Cost } \\\text { (market) at year end }\end{array} \\\hline\mathrm { A } & 50 & \$ 20 & \$ 19 \\\mathrm { B } & 100 & 45 & 45 \\\mathrm { C } & 20 & 59 & 62 \\\mathrm { D } &40&40&36\end{array}$$ Instructions
Compute the valuation for the December 31 2016 inventory using the lower-of-cost-or-market basis.