Illustration: At December 31, 2015, the following information appears in the company's inventory. Finished Desks Catalog selling price FIFO cost per inventory list 12/31/15 Estimated cost to complete and sell _ A 500 470 B 540 _ C 900 830 D 1,200 960 200 450 Instructions: At what amount should the company's record the inventory at year end, assuming that the company has adopted a lower-of-FIFO-cost-or-net realizable value approach for valuation of inventories on an individual-item basis