Fine Leather Ltd. had the following inventory at December 31, 2020: Per Unit Net Realizable Value Quantity Cost Item Leather blazers Model 154 Model 160 Model 165 Handbags Model 11 Model 12 Model 13 45 40 16 $250 255 280 $260 245 288 60 70 25 60 75 79 50 68 77 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 a. b. The value of ending inventory The value of ending inventory The value of ending inventory C