Calculate inventory value using the lower of cost or market method. (Obj. 4). The data given on page 118 relates to the raw materials inventory of the Edgewood Lighting Company. Determine the value of the inventory if the lower of cost or market method is applied to the individual inventory items.

Group I Material A Material B Group II Material C Material D Units 460 830 1.290 580 Costs $1.40 .85 1.20 .65 Market $1.30 .90 1.45 .55 LO.1