Cooper Company had the following inventory at the end of the year: Unit Price Quantity Cost Market Valves: Model Q 130 $9 $11 Model R 140 11 9 Model S 150 8 6 Gaskets: Model Alpha Model Beta Model Gamma 380 30 90 60 70 65 80 95 70 75 Cooper Company uses the lower of cost or market method (LCM) to value its inventory. Required: Determine the cost of ending inventory by using the lower of cost or market method applied to each item of inventory. Cost of Ending Inventory: $0