H.T. 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 regular sale follows: Item Quantity on Hand 65 ENDING INVENTORY, CURRENT YEAR Net Realizable Unit Cost When Value (Market) Acquired (FIFO) at Year-End $ 16 $ 19 34 56 52 29 9 14 95 44 UMOAA 25 85 34 365 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-by-item basis. Total Net Item Quantity Total Cost Realizable Value Lower of Cost or NRV A 65 B 95 25 D 85 E 365 Total $ 0 $ 0 $ 0