Data on the A detailed listing of merchandise on hand.physical inventory of Katus Products Co. as of December 31 follows:

Inventory Item	Inventory Quantity			Market Value per Unit (Net Realizable Value)
A54	37			$ 56
C77	24			178
F66	30			132
H83	21			545
K12	375			5
Q58	90			18
S36	8			235
V97	140			20
Y88	17			744

Quantity and cost data from the last purchases invoice of the year and the next-to-the-last purchases invoice are summarized as follows:

	Last Purchases Invoice							Next-to-the-Last Purchases Invoice
Inventory Item	Quantity Purchased			Unit Cost				Quantity Purchased			Unit Cost
A54	30			$ 60				40			$ 58
C77	25			174				15			180
F66	20			130				15			128
H83	6			547				15			540
K12	500			6				500			7
Q58	75			25				80			26
S36	5			256				4			260
V97	100			17				115			16
Y88	10			750				8			740

Required:

Determine the inventory at cost as well as at the lower of cost or market, using the The method of inventory costing based on the assumption that the costs of merchandise sold should be charged against revenue in the order in which the costs were incurred.first-in, first-out method. 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- 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 LCM column.

The first item on the inventory sheet has been completed as an example.

Inventory Sheet December 31
Inventory Item	Inventory Quantity		Cost per Unit	Market Value per Unit (Net Realizable Value)	Total Cost	Total Market	Total LCM
A54	37	30	$60	$56	$1,800	$1,680
		7	58	56	406	392
					2,206	2,072	$2,072
C77	24			178
F66	30			132
				132
H83	21			545
				545
K12	375			5
Q58	90			18
				18
S36	8			235
				235
V97	140			20
				20
Y88	17			744
				744
Total					$	$	$