HI Tan Company is preparing the annual financial statements dated December 31 of the current year Ending inventory information about the five major items stocked for regulat sale follows ENDING INVENTORY, CURRENT YEAR Net Realitate Quantity Unit Cost When Value (Market) on Hand Acquired (1) at Year End 5 20 512 3 35 53 75 35 355 Item A 55 35 15 35 52 C 0 E 30 15 10 Required: Compute the valuation that should be used for the current year ending inventory using lower of cost or net realizable value applied on an item byItem basis Lower ol Costor NRV Total Na em Quantity Total Cost Realitabile Value A 55 35 15 Y