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 A B C D E ENFANT PER ABCDE 70 100 30 90 370 ENDING INVENTORY, CURRENT YEAR Quantity on Hand 70 100 30 90 370 Total Net Item Quantity Total Cost Realizable Value Total 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. $ Unit Cost When Acquired (FIFO) $ 21 49 61 0 $ 39 14 Lower of Cost or NRV 0 $ Net Realizable Value (Market) at Year-End 0 $ 24 39 57 34 19

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: 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