Check my work 5 E7-12 (Algo) Reporting Inventory at Lower of Cost or Net Realizable Value LO7-4 9.09 points 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: ENDING INVENTORY, CURRENT YEAR Net Realizable Quantity Unit Cost When Value (Market) Item on Hand Acquired (FIFO) at Year-End A 64 $ 15 S 18 B 94 43 33 24 55 51 D 84 33 28 E 364 8 13 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. Lower of Cost or NRV Total Net Item Quantity Total Cost Realizable Value A 64 B 94 C 24 D B4 E 364 Total