Lower$-$of$-$Cost$-$or$-$Net Realizable Value Method

The following data refer to the Fanning Company's ending inventory:

$\backslash$table$[[\backslash$table$[[$Item$],[$Code$]],$Quantity,$\backslash$table$[[$Net$],[$Realizable$],[$Value$]]],[$LXC$,60,$$$40,$$$48$