Cornerstone Exercise 6-26 (Algorithmic) Lower of Cost or Market The accountant for Murphy Company prepared the following analysis of its inventory at year end: Item Units Cost per Unit Net Realizable Value RSK-89013 530 $38 $44 LKW-91247 329 49 45 QEC-57429 25 33 Required: 462 1. Compute the carrying value of the ending inventory using the lower a cost or market method applied on an item-by-item basis.