On the basis of the following data, determine the value of the inventory at the lower of cost or market. Apply lower of cost or market to each inventory item as shown in Exhibit 8.

Exhibit 8:

Inventory Unit Cost Price Unit Market Price Quantity 1,500 Item MT22 WY09 22 25 900 A Unit Market Unit Inventory Cost Quantity Price 400 120 Total Lower of C or M 3 Cost Price $10.25 $ 9.50 $ 4,100 $ 3,800 24.10 7.75 14.75 Market Item 4 A 5 B $ 3,800 22.50 8.00 14.00 2,700 2,892 6 C 600 4,800 3,920 $15,520 4,650 4,130 $15,472 4,650 280 3,920 8 Total $15,070 9.