Problem
Flounder Corporation has the following four items in its ending inventory: Item Cost Estimated Selling Price Estimated Disposal Costs Neutrinos $ 1,930 $2,210 $99 Ocillinos 4,930 4,830 96 Electrons 4,230 4,565 209 Protons 3,470 4,480 112 Assume that Flounder is a public company using IFRS. Determine the total value of ending inventory using the lower of cost and net realizable value model applied on an individual item basis. Item LC and NRV Neutrinos $ Ocillinos Electrons.