LCNRV Version 4 Lithop Company uses the lower of cost or NRV method in valuing its inventory items. The inventory at December 31, 2021, consists of products A, B and C. Relevant unit data for these products appear below: Product Product Product A B Unit cost $55 $25 $20 No. of units 20 350 120 Est. Selling price / 100 35 50 ea. Est. Selling cost / ea. 30 20 10 Lithop uses evaluates the NRV of its inventory on an individual product basis. Calculate the amount of inventory that Mayfly reports on its balance sheet (4 points) and provide any adjusting entries if necessary (6 points)