Alpha Co. has accumulated the following cost and net realizable value (NRV) data on December 31:

Cost Data Steel Plates $27,000

Iron Rods $25,000

Sheet Metal $ 18,000

Total $70,000

NRV Data

Steel plates $25,000

Iron Rods $28,000

Sheet Metal $17,000

Total $70,000

Using the lower of cost and NRV as applied on an item-by-item basis, calculate the LCNRV of the ending inventory.