Fine Leather Ltd. had the following inventory at December 31, 2017:

Fine Leather Lid. had the following inventory at December 31, 2017: Per Unit Net Realizable Item Quantity Cost Value Leather blazers Model 154 40 $ 180 $205 Model 160 30 220 202 Model 165 14 260 276 Handbags Model 11 60 46 43 Model 12 56 61 57 Model 13 25 73 71 Required: 1. Determine the value of ending inventory that should be reported on the statement of financial position by applying the LC&NRV rule to, a. Each item of inventory b. Each major category of inventory c. Total inventory The value of ending inventory D. The value of ending inventory The value of ending inventory