Data on the physical inventory of Satchell Co. as of December 31, 2008, are presented in the working papers. The quantity of each commodity on hand has been determined and recorded on the inventory sheet. Unit market prices have also been determined as of December 31 and recorded on the sheet. The inventory is to be determined at cost and also at the lower of cost or market, using the first-in, first-out method. 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}
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 \(\mathrm{C}\) or \(\mathrm{M}\) column. The first item on the inventory sheet has been completed as an example.objs. 4, 5

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Last Next-to-the-Last Purchases Invoice Purchases Invoice Quantity Unit Quantity Unit Description Purchased Cost Purchased Cost AC172 30 $ 60 40 $ 59 BE43 25 175 15 180 CJ9 20 130 15 128 E34 150 25 100 27 F17 6 550 15 540 G68 75 14 100 13 K41 8 400 4 398 Q79 500 6 500 7 RZ13 65 22 50 21 560 5 250 4 260 W21 120 20 115 17 XR90 10 750 8 740