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 8 for guidance. Assuming that the cost was determined by the EIFO method, show how Inventary would appear on the balance sheet: The inventory would appear in the section of the balance sheet as follows: Inventory he cost was determined by the FIFO method, show how Inventory ould appear in th ing that the cost was determined by the FIFO method, ventory would appear in the