E9.7 (LO-2) (Lower-of-Cost-or-Market) Wangerin Company follows the practice of pricing its inventory at the- lower-of-cost-or-market, on an individual-item basis. . " Cost Cost Estimated Item No. Quantity per Unit Cost of Completion to Replace Selling Price and Disposal Normal Profit 1320 1,200 $3.20 $3.00 $4.50 $0.35 1333 $1.25 900 2.70 2.30 3.50 0.50 1426 0.50 800 4.50 3.70 5.00 1437 0.40 1,000 1.00 3.60 3.10 3.20 0.25 1510 0.90 700 2.25 2.00 3.25 0.80 1522 500 0.60 3.00 2.70 3.80 0.40 1573 3,000 0.50 1.80 1.60 2.50 1626 0.75 1,000 0.50 4.70 5.20 6.00 0.50 1.00 Instructions. From the information above, determine the amount of Wangerin Company inventory. . 1