Lower-of-Cost-or-Market Inventory

On the basis of the following data:

Commodity	Inventory Quantity	Unit Cost Price	Unit Market Price
AL65	35	$82	$93
CA22	25	152	159
LA98	17	43	37
SC16	16	58	63
UT28	19	239	260

Determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 10.

Inventory at the Lower of Cost or Market
Commodity	Total Cost	Total Market	Total Lower of C or M
AL65	$	$	$
CA22
LA98
SC16
UT28
Total	$	$	$