A company has gathered the following per unit cost and replacement cost information relating to its inventory:

• Item A: 5 units with a cost of $50 and a net realizable value of $45
• Item B: 7 units with a cost of $60 and a net realizable value of $65
• Item C: 9 units with a cost of $30 and a net realizable value of $25

Under the lower of cost or net realizable value method, what is the amount of ending inventory that should be reported on the company's balance sheet?

Transcribed Image Text:

Ending inventory Ending inventory

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