Drini sh.p.k. uses the LCNRV method to evaluate inventory for financial reporting purposes. Information related to inventory at December 31, 2020 appears below. Item A Item B Item C Quantity 30 units 10 units 20 units Estimated Selling Price per unit $50 $35 $42 Cost per unit 45 24 Cost to complete per unit 10 6 3 Cost to sell per unit 1 2 2 21 Required a) Explain the difference in results from the two methods above (10 points) b) Determine the correct value to be reported for inventory on the Financial Position Statement applying LCNRV for each item individually. (10 points) Item A Item B Item C Total inventory LCNRV c) Determine the correct value to be reported for inventory on the Financial Position Statement applying LCNRV for inventory in total. (10 points) Total inventory LCNRV