1. Kamp, Inc. sells specialized bicycle shoes. At year-end, due to a sudden increase in manufacturing costs, the replacement cost per pair of shoes is $55. The original cost is $43, and the current selling price is $50. The normal profit margin is 10% of the selling price, and the selling costs are $3 per pair. According to U.S. GAAP, which of the following amounts should each pair of shoes be reported on Kamp's year-end balance sheet?