7.12. Example 12 - Subsequent Measurement of Inventory-Warehouse of X Pro By the end of the year entity had 100 units in warehouse of X-Pro. Units are so far reported at total cost of 10,000. Recently fire broke out and damaged the outer casing of units. Engineers have confirmed that product can still fetch full selling price if outer cover is replaced. Currently X-Pro is selling for $110 per unit and cost of repair is estimated to be $5 per unit. Additionally, entity will have to pay $2,000 in total towards the carriage cost to move repaired goods from workshop to warehouse. Compute the value at which inventory should be reported in financial statements if Lower of Cost and NRV(LCNRV) rule is followed