The controller of Alt Company is applying the lower-of-cost-or-net realizable value basis of valuing its ending inventory. The following information is available: 
Instructions
Compute the value of the ending inventory by applying the lower-of-cost-or-net realizable value basis.
Definitions:
Biologically Determined
Traits, characteristics, or behaviors that are influenced by genetic makeup rather than environmental factors.
Socially Defined
Refers to concepts, roles, or norms that are constructed and recognized within a society or culture.
Gender
The range of characteristics pertaining to, and differentiating between, masculinity and femininity, including social roles, behaviors, and identities.
Sex
A biological characteristic defining organisms based on their reproductive functions and structures; also refers to activities related to sexual intercourse.
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