Data on the physical inventory of Katus Products Co. as of December 31, 2016, follows:

Quantity and cost data from the last purchases invoice of the year and the next-to-the-last purchases invoice are summarized as follows:

Instructions
Determine the inventory at cost and also at the lower of cost or market, using the first-in, first-out method. Record the appropriate unit costs on the inventory sheet, and complete the pricing of the inventory. When there are two different unit costs applicable to an item:
1. Draw a line through the quantity, and insert the quantity and unit cost of the last purchase.
2. On the following line, insert the quantity and unit cost of the next-to-the-last purchase.
3. Total the cost and market columns and insert the lower of the two totals in the Lower of C or M column. The first item on the inventory sheet has been completed as an example.

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Market Value per Unit (Net Realizable Value) Inventory DescriptionQantity A54 F66 H83 K12 058 S36 V97 Y88 37 24 30 21 375 90 $ 56 178 132 545 18 235 140 17 744 Last Next-to-the-Last Purchases Inv Purchases Invoice Quantity Unit Purchased Cost 40 58 180 128 oice Quantity Unit Description Purchased Cost S 60 174 130 547 30 25 20 15 15 15 500 F66 H83 K12 Q58 S36 V97 Y88 500 75 25 256 17 750 26 260 16 740 4 115 100 10 Inventory Sheet December 31, 2016 Market Value per Total Unit Inventory Cost Unit (Net Description Quantity UnitRealizable Value) CostMarket LCM A54 37 30 60 58 $56 56 $1,800 $1,680 406 392 $2,206 $2,072 $2,072