Konan, Inc -The Lower of Cost or Market for Item M-23 Is

Konan, Inc. uses the lower of cost or market method to determine inventory value. The following information pertains to the ending inventory:
$\begin{array}{lccccc}\text { Item } & \text { Cost } & \begin{array}{c}\text { Replacement } \\\text { Cost }\end{array} & \begin{array}{c}\text { Selling } \\\text { Price }\end{array} & \begin{array}{c}\text { Cost of } \\\text { Completion }\end{array} & \begin{array}{c}\text { Normal } \\\text { Profit }\end{array}\\\text { L-19 } & \$ 40 & \$ 38 & \$ 50 & \$ 2 & \$ 11 \\\text { M-23 } & 52 & 40 & 60 & 4 & 14 \\\text { N-05 } & 20 & 24 & 30 & 2 & 6\end{array}$
-The lower of cost or market for item M-23 is

A) $40.
B) $42.
C) $46.
D) $52.