Sarasota Furniture Shop Inc. uses the lower of cost and net realizable value basis (LCNRV) for reporting its inventory. The following data are available at December 31. Units Cost/Unit Net Realizable Value Tables Large 22 $266 $263 Small 17 139 151 Chairs Plastic 40 47 43 Wooden 42 21 29 (a) What amount should be reported on Sarasota Furniture Shop's financial statements, after the lower of cost and net realizable value rule is applied to individual inventory items? Tables: Large $ Small Chairs: Plastic Wooden Total $ LCNRV