E$7-14($Algo$)$ Reporting Inventory at Lower of Cost or Market$/$Net Realizable Value $[$LO $7-4]$

Sandals Company is preparing the annual financial statements dated December $31.$ Ending inventory is presently recorded at its total cost of $$10,825.$ Information about its inventory items follows:

$\backslash$table$[[$Product Line,$\backslash$table$[[$Quantity$],[$on Hand$]],\backslash$table$[[$Unit cost When$],[($FIFO$)]],$Acquired Value a$,\backslash$table$[[$at Year$-],[$End$]]],[$Air Flow,$55,$$$$50,,$$$53$