Calculating Lower-of-Cost-or-Net Realizable Value Anne Traylor Inc. has the following information for its six inventory items on June 30, 2020. Determine the inventory cost to report on the balance sheet on June 30, 2020, assuming that the company applies the lower-of-cost-or-net realizable value rule to each individual inventory item.

Inventory Item	Quantity	Selling Price	Cost to Sell	Inventory Cost	Lower-of-Cost-or- Net Realizable Value
#100	70	$24	$5	$16
#101	100	22	4	17
#115	50	35	6	31
#118	120	40	6	29
#120	25	18	4	10
#128	45	30	8	26
Total