On the basis of the data shown below:

Determine the value of the inventory at the lower-of-cost-or-market. (Note: Apply lower-of-cost-or-market to each inventory item, as shown in exhibit 10.)

Exhibit 10:

Determining Inventory at Lower of Cost or Market (LCM):

Item Inventory Quantity Unit Cost Unit Market Price JFW1 $11 SAW9 34 6,330 1,140 $10 36 Unit Unit Inventory Cost Market Item Quantity Price Price Cost Echo 400 $10.25 $9.50 $4,10 Faxtrot 120 22.5 24.1 2,700 Sierra 600 8,00 7.75 4,800 Tango 280 14 14.75 3,920 $15,520 $15,472 Total Market LCM $3,800 $3,800 2,892 2,700 4,650 4,650 4,130 3,920 $15,070