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

The following data refer to the Flemming Company$$s ending inventory:

Item

Code

Quantity

Unit

Cost Net

Realizable

Value

ABX $80$ $$58$ $$63$

TYG $1504850$

JIL $1753633$

GGH $905246$

Calculate the value of the company$$s ending inventory by using the lower$-$of$-$cost$-$or$-$net realizable value applied to each item of inventory.

Ending inventory computed by applying the lower$-$of$-$cost$-$or$-$net realizable value to each item of inventory is $Answer