Novak Corp. sells three different categories of tools (small, medium, and large). The cost and net realizable value of its inventory of tools are as follows. Net Realizable Cost Value Small $64,000 $61,100 Medium 290,000 260,800 Large 152,700 170,700 Determine the value of the company's inventory under the lower-of-cost-or-net realizable value approach. Total inventory value $