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 50 $45 $48 KWT 210 34 MOR 300 20 NES 100 27 32 38 22 Determine the ending inventory amount by applying the lower of cost or net realizable value rule to: (a) each item of inventory $ 20,790 x (b) the total inventory. $ 21,940 X