Exercise 8-6 During 2017, Ayayai Furniture Limited purchased a railway car load of wicker chairs. The manufacturer of the chairs sold them to Ayayai for a lump sum of $58,200, because it was discontinuing manufacturing operations and wanted to dispose of its entire stock. Three types of chairs are included in the carload. The three types and the estimated selling price for each are as follows Estimated Selling Price per Chair Type No. of Chairs 460 350 620 $94 83 54 Lounge chairs Straight chairs Ayayai estimates that the costs to sell this inventory would amount to $4 per chair. During 2017, Ayayai sells 400 lounge chairs, 250 armchairs, and 130 straight chairs, all at the same prices as estimated. At December 31, 2017, the remaining chairs were put on sale: the lounge chairs at 25% off the regular price, the armchairs at 30% off, and the straight chairs at 40% off. All were expected to be sold at these prices. t is the total cost of the chairs remaining in inventory at the end of 2017, using the relative sales value method? (Round percentages to 1 decimal place, e.g. 52.7% and all other amounts t decimal places, e.g. 52.75.) Total costs $ LINK TO TEXT LINK TO TEXT What is the net realizable value of the chairs remaining in inventory? (Round answer to 2 decimal places, e.g. 52.75.) Net realizable value $ LINK 10 IEXI LINK 10 IEXI What is the appropriate inventory value to be reported on the December 31, 2017 statement of financial position assuming the lower of cost and NRV is applied on an individual item basis? (Round answer to 2 decimal places, e.g. 52.75.) Inventory value$ LINK TO TEXT LINK TO TEXT