I have $10$ scarves left in inventory at the end of the accounting period. I paid

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my supplier $$5$ per scarf. It cost $$18$ to ship the scarves and $$13$ to store the

question $4$ of $5$

scarves. The market value of the scarves is $$8\mathrm{.}50.$ I expect to incur $$1\mathrm{.}30$ per scarf in selling expenses. I am selling the scarves for $$10\mathrm{.}00$ each. What is the total cost of the scarves, and what is the price that is used for inventory valuation based on the Lower of Cost or Market rule?

$$8\mathrm{.}10/$ cost

$$5\mathrm{.}00/$ Market

$$8\mathrm{.}10/$ Market

$$5\mathrm{.}00/$ Cost