17. At year-end 20X8, Ancho Canned Chile has 8,000 units on hand at a weighted- average cost of $13 per item. Sales for the year were at $16 per item. Resellers cost Ancho an average $4 per unit. a. What is Ancho's ending inventory applying LCNRV by item? b. If the loss is not significant enough to warrant disclosure on the income statement, what year end journal entry does Ancho record? c. If the market value of the inventory increases in the following year, can Ancho recognize the recovery?