Remmers SE manufactures desks. Most of the company’s desks are standard models and are sold on the basis of catalog prices. At December 31, 2022, the following finished desks appear in the company’s inventory.

The 2022 catalog was in effect through November 2022, and the 2023 catalog is effective as of December 1, 2022. All catalog prices are net of the usual discounts.

Instructions

At what amount should each of the four desks appear in the company’s December 31, 2022, inventory, assuming that the company has adopted a lower-of-FIFO-cost-or-net realizable value approach for valuation of inventories on an individual-item basis?

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Finished Desks 2022 catalog selling price A B C D €450 €480 €9o0 €1,050 FIFO cost per inventory list 12/31/22 470 450 830 096 200 Estimated cost to complete and sell 50 260 110 2023 catalog selling price 500 540 900 1,200