Jones 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: ENDING INVENTORY, CURRENT YEAR Item Quantity on Hand Unit Cost When Acquired (FIFO) Net Realizable Value (Market) at Year-End A 57 $ 22 $ 19 B 87 37 47 C 17 55 59 D 77 32 37 E 357 17 12 Required: Compute the valuation that should be used for the current year ending inventory using the LCM rule applied on an item-by-item basis.