Accounting · Inventory Valuation

During the year ended 31 December 20X6, Grasmere purchased the following items for resale: - March: 20 items at $11 each - June: 20 items at $13 each At 31 December 20X6, 20 items remained unsold. At that date, the resale price was $12 per item and the estimated cost to sell was negligible, while the purchase price of new supplies was $10 per item. Grasmere determines the cost of inventory under the First-In, First-Out (FIFO) method. At what amount should the finished goods inventory be shown in the statement of financial position as at 31 December 20X6?