Bethel Co.has collected the following data related to its ending inventory: 
Calculate the lower of cost and net realizable value (LCNRV)on an item by item basis.
Definitions:
Machine-Hours
A measurement of the amount of time machines are operated during the production process.
Direct Labor-Hours
The total hours worked directly on the production of goods, used as a basis for allocating labor costs to products.
Departmental Predetermined Rates
Specific overhead rates calculated for each department within a company, used to allocate indirect costs more accurately.
Machine-Hours
A measure of the total time that machines are operated within a specific period, used for allocating manufacturing overhead costs to products.
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