E6-12A. Lower-of-Cost-or-Net Realizable Value Method The following data refer to the Ian Company's ending inventory: Item Code Quantity Unit Cost Net Realizable Value ABX . . . . . . . . . . . . . . . . . . . . . . . . 80 $50 $55 TYG . . . . . . . . . . . . . . . . . . . . . . . . 200 38 42 JIL . . . . . . . . . . . . . . . . . . . . . . . . . . 175 28 24 GGH . . . . . . . . . . . . . . . . . . . . . . . . 90 44 38 Calculate the value of the company's ending inventory by using the lower-of-cost-or-net realizable value applied to each item of inventory