A partial inventory of Furniture Mart is shown in the table below. Use the lower-of-cost-or-market rule to calculate the value of the inventory.

Item	Quantity	Cost	Market	Basis	Amount
Sofas	397	$1,150	$1,092
Beds	179	7,140	5,712
End tables	444	5,264	6,496
China cabinets	498	4,797	4,290
Dining sets	312	2,604	2,520