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Violet Ltd. retails gardening equipment and has five main product lines: mowers, vacuum blowers, edgers, garden tools and fences. At December 31, 2021, cost and

Violet Ltd. retails gardening equipment and has five main product lines: mowers, vacuum blowers, edgers, garden tools and fences. At December 31, 2021, cost and net realizable values for each product line were as shown below:

Inventory item

Quantity

Cost per unit $

NRV per unit $

Equipment category

Mowers

16

215.80

256.00

Vacuum blowers

113

62.35

60.00

Edgers

78

27.40

36.00

Non-electrical category

Garden tools

129

12.89

11.00

Fences

57

43.11

55.00

Determine the value of the ending inventory using LCNRV application on major-inventory category. Round your answer to 2 decimal places if necessary. (10 marks)

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