Question: Please answer problem #11, SELECTING THE CORRECT ANSWER. Thank you! Cheyenne Corp. sells six different products. The following information is available on December 31: Inventory

Please answer problem #11, SELECTING THE CORRECT ANSWER. Thank you!

Cheyenne Corp. sells six different products. The following information is available on December 31: Inventory item Units Cost per unit Net Realizable Value per unit Estimated selling price Tin 55 $440 $445 $455 Titanium 20 4400 4360 4490 Stainless steel 70 1760 1680 1740 Aluminum 70 310 250 255 Iron 35 350 360 375 Fiberglass 35 260 260 260 When applying the lower-of-cost-or-net-realizable-value rule to each item, what will Cheyenne total ending inventory balance be? O $267850 O $268475 O $268250 O $278450

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