Data on the physical inventory of Ashwood Products Company as of December 31 follow:

Inventory Item	Inventory Quantity			Market Value per Unit (Net Realizable Value)
B12	38			$ 57
E41	18			180
G19	33			126
L88	18			550
N94	400			7
P24	90			18
R66	8			250
T33	140			20
Z16	15			752

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
B12	30			$ 60				30			$ 59
E41	35			178				20			180
G19	20			128				25			129
L88	10			563				10			560
N94	500			8				500			7
P24	80			22				50			21
R66	5			248				4			260
T33	100			21				100			19
Z16	10			750				9			745

Determine the inventory at cost as well as at the lower of cost or market, using the 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, proceed as follows:

1. Insert the quantity and unit cost of the last purchase.
2. 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 Lower of C or M column.

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