Lower-of-Cost-or-Market Inventory

On the basis of the following data:

Commodity	Inventory Quantity	Unit Cost Price	Unit Market Price
AL65	23	$52	$54
CA22	32	134	109
LA98	14	232	235
SC16	47	197	214
UT28	23	182	178

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	$	$	$