A manufacturer is valuing its inventory at the reporting date and has identified the following items to be valued: Inventory A work in progress consists of 10 items that have cost $2,500 to produce in total. It is expected that each item will sell for $280, where direct selling costs are expected to be 5% of the selling price, and it is estimated that costs to complete would be $10 per unit. Inventory B the company has 1,000