Answer:
The calculation is shown below:
Explanation:
According to the scenario, the computation of the following data can be done as follows:
Total Cost = Quantity × Unit Cost
Total NRV = Net Realizable Value × Quantity
So, by putting the value in the formula, we get,
Item       Quantity     Total Cost        Total NRV    Lower of cost or NRV
A             59   $1,416.00         $1,239.00         $1,239.00
B             89   $3,471.00         $4,361.00         $3,471.00
C             19   $1,083.00        $1,159.00         $1,083.00
D             79   $2,686.00        $3,081.00         $2,686.00
E             359   $6,821.00         $5,026.00              $5,026.00
Total                   $15,477.00        $14,866.00         $13,505.00