Fundy Corporation Has the Following Information About Their Inventory at Year-End

Multiple Choice

Fundy Corporation has the following information about their inventory at year-end: $\begin{array}{lrr}\text { Item}&\text { Cost }&\text { NRV }\\\hline\# 1 & \$ 12,000 & \$ 12,500 \\\# 2 & 21,250 & 19,750 \\\# 3 & 18,600 & 18,500\end{array}$ If Fundy values their inventory at the lower of cost and net realizable value on an item-by-item basis, what would be their year-end inventory balance on the balance sheet?

A) $50,250
B) $50,750
C) $51,850
D) $52,350