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Compute the lower-of-cost-or-net realizable value

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Franklin Company has the following four items in its ending inventory as of December 31, 2012. The company uses the lower-of-cost-or-net realizable value approach for inventory valuation following IFRS.

Item No.

Cost

Net Realizable Value

AB

$1,700

$1,400

TRX

2,200

2,300

NWA

7,800

7,100

SGH

3,000

3,700

Compute the lower-of-cost-or-net realizable value.

Reference no: EM13531039

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