The following information concerns four items that Katy Mayfield Clothiers for Women has in its ending inventory on December 31. Two of these items are in the accessories department, and two are in the women leisure wear department. Net Realizable value Quantity Unit Cost 250 160 $30 56 $ 33 53 Accessories Item 620 Item 621 Women leisure wear Item 726 Item 727 110 140 96 92 103 90 1. What is the valuation of ending inventory if the firm uses the lower of cost or net realizable value method and applies it on an item-by-item basis? 2. If the company applies the lower of cost or net realizable value method on the basis of total cost or total net realizable value, what is the value of ending inventory? 3. If the company elects to apply the lower of cost or net realizable value method to inventory groups, what is the value of the ending inventory? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the valuation of ending inventory if the firm uses the lower of fast or net realizable value method by-item basis? Lower of Cost or Market by Item Description Quantity Unit Cost Net Realizable Value Total Cost Total Net Realizable Value Lower of C or Marke Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 What is the valuation of ending inventory if the firm uses the lower of cost or net realizable value method and applies it on an ite by-item basis? Lower of Cost or Market by Item Description Quantity Unit Cost Net Realizable Value Total Cost Total Net Realizable Value Lower of Cost or Market Item by Item Accessories Item 620 Item 621 Total Accessories Women leisure wear Item 726 Item 727 Women leisure wear Totals Ending inventory valuation Required Required 2 > 2. If the company appliel the lower of cost or net realizable value method on the basis of total cost or total net value, what is the value of ending inventory? 3. If the company elects to apply the lower of cost or net realizable value method to inventory groups, what is th of the ending inventory? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 If the company applies the lower of cost or net realizable value method on the basis of total cost or total net realizable what is the value of ending inventory? Total Cost or Not Realizable Value of Ending Inventory Total cost Total net realizable value Ending inventory valuation Complete this question by entering your answers in the tabs below. Required: Required 2 Required 3 If the company elects to applyithe lower of cost or net realizable value method to inventory groups, what is the value of the ending Inventory? By Groups Total Cost Total Net Realizable Value Lower of Cost or Total Net Realizable Value Accessories Women leisure wear Ending inventory valuation