Inventory on the Balance Sheet On the basis of the following data, determine the value of the inventory at the lower of cost or market. Refer to Exhibit 9 for guidance Market Value per Unit (Net Realizable Inventory Cost per Unit Product Quantity Adams Coolidge McKinley Garfield Lincoln 230 180 600 80 180 Value) 240 150 560 60 188 84 10 104 125 Assuming that the cost was determined by the FIFO method, show how Inventory would appear on the balance sheet. Inventory at cost at higher of cost (FIFO) or market at lower of cost (FIFO) or market at market