uiz E7-12 Lower of Cost or Market Help Save & Exit Su E7-12 (Algo) Reporting Inventory at Lower of Cost or Net Realizable Value L07-4 H.T. Tan Company is preparing the annual financial statements dated December 31 of the current year. Ending inventory information about the five major items stocked for regular sale follows: Quantity on Hand ENDING INVENTORY, CURRENT YEAR Net Realizable Unit Cost When Value (Market) Aequired (FIFO) at Year-End 360 Required: Compute the valuation that should be used for the current year ending Inventory using lower of cost or net realizable value applied on an item-by-item basis. Total Net Item Quantity Total Cost Realizable Value Lower of Cost or NRV 90