July 6 8 9 19 22 28 31 Purchased $1,600 of merchandise on credit, terms n/30. Returned $100 of the items purchased on July 6. Paid freight charges of $90 on the items purchased July 6. Sold merchandise on credit for $4,400, terms 1/10, n/30. The merchandise had an inventory cost of $2,700. of the merchandise sold on July 19, $300 of it was returned. The items had cost the store $150. Received payment in full from the customer of July 19. Paid for the merchandise purchased on July 6. Brief Exercise 6-7 Carla Vista Co. accumulates the following cost and market data at December 31. Inventory Categories Cost Data Cameras Camcorders DVDs $10,252 8,812 10,894 Market Data $11,322 9,342 9,774 Compute the lower-of-cost-or-market valuation for company's inventory. The lower-of-cost-or-market value