Concord Company determined its ending inventory at cost and at lower of cost and net realizable value at December 31, 2018, 2019, and 2020, as follows: Lower of Cost and Dec. 31, 2018 Cost $69,000 Net Realizable Value $69.000 Dec. 31, 2019 86,000 Dec. 31, 2020 78.800 77.400 69,000