Practice Do It! Review 02 a, b1-b2 (Part Level Submission)

(a) Metlock, Inc. sells three different categories of tools (small, medium, and large). The cost and net realizable value of its inventory of tools are as follows. Net Realizable Cost Value Small $ 64,900 $ 74,000 Medium 289,700 260,000 Large 151,400 171,900 Determine the value of the company's inventory under the lower-of-cost-or-net realizable value approach. Total inventory value $ Attempts: 0 of 1 used