Use the following information to answer Q6a, Q6b & Q6c [1 mark for each wholly correct answer].

Kumasi Co. sells two types of roofing tiles. One type of tile is made from natural quarried slate and the other from cement. The natural slate is offered in two colors, and the cement tiles in three colors. The companys Inventory at Cost [FIFO] and NRV are given in the table below.

LCNVR by:

Group Item Cost $ NRV $ Individual Item Group Total

Slate Black 90,000 70,000

Blue 95,000 90,000

Cement Red 100,000 120,000

Yellow 95,000 110,000

Green 50,000 40,000

Q6a. Determine LCNVR by applying the LCNVR rule to each of the 5-individual tiles.

Show plausible calculations to get credit.

Answer: LCNRV by individual item is $