Lower-of-Cost-or-Market Inventory

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.

Inventory Item	Inventory Quantity	Cost per Unit	Market Value per Unit (Net Realizable Value)
Birch	12	$253	$228
Cypress	18	43	48
Mountain Ash	12	279	262
Spruce	50	275	266
Willow	29	291	299

Inventory at the Lower of Cost or Market
Inventory Item	Total Cost	Total Market	Total Lower of C or M
Birch	$	$	$
Cypress
Mountain Ash
Spruce
Willow
Total	$	$	$