Lower-of-Cost-or-Market Inventory Inventory Quantity Cost per Unit 13 $107 On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9. Birch Inventory Item Market Value per Unit (Net Realizable Value) $107 Cypress 21 157 166 Mountain Ash 39 216 196 Spruce 26 89 85 Willow 32 149 141 Inventory at the Lower of Cost or Market Inventory Item Total Cost Total Market Total LCM Birch Cypress Mountain Ash Spruce Willow Total