Novak Company determined its ending inventory at cost and at lower of cost and net realizable value at December 31, 2021, 2022, and 2023, as follows: Dec. 31, 2021 Dec. 31, 2022 Dec. 31, 2023 Cost $59,000 84,000 78,800 Lower of Cost and Net Realizable Value $59,000 75,600 69,000

Novak Company determined its ending inventory at cost and at lower of cost and net realizable value at December 31, 2021, 2022, and 2023, as follows