Trends by Tiffany sells high-end leather purses. The company has the following inventory transactions for the year. Units Cost Total Cost Date ansaction Jan. 1 20 $500 10,000 Beginning inventory Apr. 9 Purchase 30 520 15.600 11 550 6,050 Oct. 4 Purchase 31,650 61 Jan. 1-Dec. 3 Sales 52 Because trends in purses change frequently, Trends by Tiffany estimates that the remaining nine purses have a net realizable value at December 31of only $350 each