10 8.33 points Check my work H.T. Tan Company is preparing the annual financial statements dated December 31 of the current year. Ending Inventory Information about the five major items stocked for regular sale follows: ENDING INVENTORY, CURRENT YEAR Unit Cost When Acquired (FIFO) Net Realizable Value (Market) at Year-End Quantity Skipped Item on Hand ABCDE 56 $ 21 $ 18 86 36 46 16 54 58 76 31 36 eBook 356 16 11 + Hint Compute the valuation that should be used for the current year ending Inventory using lower of cost or net realizable value applied on an Item-by-item basis. Required: Total Net References Item Quantity Total Cost Realizable Value Lower of Cost or NRV A 56 B 86 C 16 D 76 E 356 Total $ 0 $ 0 $ 0 10 8.33 points Check my work H.T. Tan Company is preparing the annual financial statements dated December 31 of the current year. Ending Inventory Information about the five major items stocked for regular sale follows: ENDING INVENTORY, CURRENT YEAR Unit Cost When Acquired (FIFO) Net Realizable Value (Market) at Year-End Quantity Skipped Item on Hand ABCDE 56 $ 21 $ 18 86 36 46 16 54 58 76 31 36 eBook 356 16 11 + Hint Compute the valuation that should be used for the current year ending Inventory using lower of cost or net realizable value applied on an Item-by-item basis. Required: Total Net References Item Quantity Total Cost Realizable Value Lower of Cost or NRV A 56 B 86 C 16 D 76 E 356 Total $ 0 $ 0 $ 0