Lower-of-Cost-or-Market Inventory

On the basis of the following data:

Commodity Inventory Quantity Unit Cost Price Unit Market Price

AL65 28 $178 $176 CA22 29 $210 $219 LA98 38 $79 $89 SC16 32 $224 $205 UT28 27 $130 $136 Determine the value of the 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 $ $ $