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. Don't use plagiarized sources. Get Your Custom Essay on franklin company has the following four items in its ending inventory as of december 533865 For $10/Page 0nly | 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.
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