Rama Corporation has 2,000 units of product #1 and 4,000 units of product #2 in its ending inventory at December 31, 2011. The historical cost and net realizable of product #1 were $40 and $45 per unit respectively. The historcal cost and net realizable value of product #2 were $70 and $54 per unit respectively. What amount will be reported for inventory on Rama's statement of financial position after the company applies LCNRV?, Select one: O $296,000 $306,000. $288,000 $220,000