Framers World sells picture frames. The following data are gathered for use in determining the lower-of-cost-or-net realizabl e value valuation of ending inventory. Item Units Estimated Selling Cost to Original Price complete Cost and sell 4 x 6 5 x 7 8 x 10 | 10 x 14 410 805 1,500 225 $ 2.70 5.50 7.25 12.05 $0.75 2.25 1.80 1.00 $ 1.55 3.50 6.25 11.00 Using the item-by-item basis for calculating lower of cost or market, the value of inventory is