Lower-of-Cost-or-Net Realizable Value Method The Crane Company had the following inventory at year-end: Unit Price Net Quantity Cost Realizable Value Desks Model 9001 70 $250 $270 Model 9002 45 340 328 Model 9003 20 410 420 Cabinets Model 7001 Model 7002 Model 7003 120 120 124 80 155 50 148 190 186 Required Determine the value of the ending inventory after applying the lower-of-cost-or-net realizable value method to each item of inventory. Applying the lower-of-cost-or-net realizable value method to each item of the inventory results in an ending inventory amount of s