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SLR Corporation has 2,500 units of each of its two products in its year-end inventory. Per unit data for each of the products are as
SLR Corporation has 2,500 units of each of its two products in its year-end inventory. Per unit data for each of the products are as follows:
| Product 1 | Product 2 | |
| Cost | $80 | $50 |
| Selling price | $145 | $51 |
| Costs to sell | $11 | $3 |
Determine the carrying value of SLRs inventory (i.e., ending balance) assuming that the lower of cost or net realizable value (LCNRV) rule is applied to individual products.
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