HT. 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: ENDIMI INVENTORY, CURRENT YEAR Net Realizable Quantity Unit Cost When Value (Market) Item on Hand Acquired (FIFO) at Year-End $ 15 $12 30 48 25 20 A B Se 80 10 79 350 D E 40 52 30 s 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 Lower of Item Quantity Total Cost Realizable Cost or Value NRV A 50 B 80 10 D 70 E 350 Total $ 05 0$ 0