lower cost of market method

Lower-of-Cost-or-Market Method On the basis of the data shown below: Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Item IA17 BJ54 $61 9 6 189 $58 29 Determine the value of the inventory at the lower of cost or market by applying lower of cost or market to each inventory item, as shown in Exhibit 9. $