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Iris Company has provided the following information regarding two of its items of inventory at...

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Accounting

Iris Company has provided the following information regarding two of its items of inventory at year-end:

There are 155 units of Item A, having a cost of $19 per unit, a selling price of $23 and a cost to sell of $6 per unit.

There are 105 units of Item B, having a cost of $49 per unit, a selling price of $55 and a cost to sell of $4 per unit.

How much is the ending inventory using lower of cost or net realizable value on an item-by-item basis?

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