Jenkins Company had the following inventory at the end of the year: Unit Price Quantity Cost Market Model Q Model R Model S 200 190 120 $ 8 10 12 $6 12 14 Gaskets: Model Alpha Model Beta Model Gamma 40 30 90 65 85 75 60 90 70 Jenkins Company uses the lower of cost or market method (LCM) to value its inventory Required: Determine the cost of ending inventory by using the lower of cost or market method applied to each category of inventory Cost of Ending Inventory