Determining Lower of Cost or Net Realizable Value (NRV) The following data refer to Froning Company's ending inventory. Item Code Quantity Unit Cost Unit NRV LXC 60 $45 $48 KWT 210 38 34 MOR 300 22 20 NES 100 27 32 Determine the ending inventory amount by applying the lower of cost or net realizable value rule to: (a) each item of inventory $ 2,700 x (b) the total inventory. $ 18,540