Data on the physical inventory of Katus Products Co. as of December 31 follows:

Description	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
Description	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 and also 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:

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
Commodity	Inventory Quantity		Cost per Unit	Market Value per Unit (Net Realizable Value)	Cost	Market	LCM
A54	37	30	$60	$56	$1,800	$1,680
		7	58	56	406	392
					2,206	2,072	$2,072
C77	24		fill in the blank 1	fill in the blank 2	fill in the blank 3	fill in the blank 4	fill in the blank 5
F66	30	fill in the blank 6	fill in the blank 7	fill in the blank 8	fill in the blank 9	fill in the blank 10
		fill in the blank 11	fill in the blank 12	fill in the blank 13	fill in the blank 14	fill in the blank 15
					fill in the blank 16	fill in the blank 17	fill in the blank 18
H83	21	fill in the blank 19	fill in the blank 20	fill in the blank 21	fill in the blank 22	fill in the blank 23
		fill in the blank 24	fill in the blank 25	fill in the blank 26	fill in the blank 27	fill in the blank 28
					fill in the blank 29	fill in the blank 30	fill in the blank 31
K12	375		fill in the blank 32	fill in the blank 33	fill in the blank 34	fill in the blank 35	fill in the blank 36
Q58	90	fill in the blank 37	fill in the blank 38	fill in the blank 39	fill in the blank 40	fill in the blank 41
		fill in the blank 42	fill in the blank 43	fill in the blank 44	fill in the blank 45	fill in the blank 46
					fill in the blank 47	fill in the blank 48	fill in the blank 49
S36	8	fill in the blank 50	fill in the blank 51	fill in the blank 52	fill in the blank 53	fill in the blank 54
		fill in the blank 55	fill in the blank 56	fill in the blank 57	fill in the blank 58	fill in the blank 59
					fill in the blank 60	fill in the blank 61	fill in the blank 62
V97	140	fill in the blank 63	fill in the blank 64	fill in the blank 65	fill in the blank 66	fill in the blank 67
		fill in the blank 68	fill in the blank 69	fill in the blank 70	fill in the blank 71	fill in the blank 72
					fill in the blank 73	fill in the blank 74	fill in the blank 75
Y88	17	fill in the blank 76	fill in the blank 77	fill in the blank 78	fill in the blank 79	fill in the blank 80
		fill in the blank 81	fill in the blank 82	fill in the blank 83	fill in the blank 84	fill in the blank 85
					fill in the blank 86	fill in the blank 87	fill in the blank 88
Total					$fill in the blank 89	$fill in the blank 90	$fill in the blank 91