Lower of Cost or Net Realizable Value (LCNRV) Rule Determine the proper total inventory value for each of the following items in Erik Company's ending inventor) a. Erik has 200 rolls of camera film that have become obsolete with the advent of digital cameras. The films cost $1.65 each and are normally sold for $3.30. To clear out these old films, Erik will drop their selling price to $0.99. There are no related selling costs. b. Erik has four cameras in stock that have been used as demonstration models. The cameras cost $380 and normally sell for $480. Because these cameras are in used condition, Erik has set the selling price at $360 each. Expected selling costs are $10 per camera. New models of the camera, already on order, will cost Erik $400 and will sell for $520