Lower of Cost or Market The following information is taken from Aden Company's records:

Required:
What is the correct inventory value if the company applies the lower of cost or market to each of the following?
1. Individual items
2. Group of items
3. The inventory as a whole
 

Product A B D E Group 1 1223 2 3 Units 600 250 150 100 80 Cost/Unit $ 1.00 1.50 5.00 6.50 25.00 Market/Unit $0.80 1.55 5.25 6.40 24.60