Lower of Cost and Net Realizable Value (NRV)
the December

Lower of cost and net realizable value (NRV)
The December 31, 2020, inventory of Rhode Inc. consisted of four products, for which certain information is provided below:
$$\begin{array} { c c c c c } && \text { Replacement }& \text { Estimated }&\text { Expected } \\\text { Product } & \text { Original Cost } &\text {Cost} &\text { Disposal cost } & \text { Selling Price } \\\text { A } & \$ 29.00 & \$ 22.00 & \$ 6.50 &\$ 40.00 \\\text { B } & \$ 44.00 & \$ 40.00 &\$8.00 &\$48.00 \\\text { C } & \$ 145.00 & \$ 125.00 & \$ 25.00 & \$ 190.00 \\\text { D } & \$ 21.00 & \$ 15.80 & \$ 3.00 & \$ 28.00\end{array}$$ Instructions
Using the lower of cost and NRV approach applied on an individual-item basis, calculate the inventory valuation that should be reported for each product on December 31, 2020.