LOWER OF COST OR MARKET Kevin Spears, the accountant of Tyler Electronics Inc., has prepared the following information for the company’s inventory at the end of 2009:

Model Quantity Cost per Unit Market Value per Unit RSQ535 30 $100 $180 JKY942 12 75 125 LLM112 54 85 80 KZG428 23 115 140 Required:

Determine the carrying amount of the inventory using lower of cost or market applied on an item-by-item basis.