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H.T. Tan Company is preparing the annual financial statements dated December 31 of the current...

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Accounting

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
Item Quantity
on Hand Unit Cost When Acquired (FIFO) Net Realizable
Value (Market)
at Year-End
A 53 $ 18 $ 15
B 833343
C 135155
D 732833
E 353138
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.

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