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	120	$150	$140
Cypress	90	120	130
Mountain Ash	200	110	100
Spruce	160	90	100
Willow	70	130	120

Inventory at the Lower of Cost or Market blank

Inventory Item	Total Cost	Total Market	Total LCM
Birch
Cypress
Mountain Ash
Spruce
Willow
Total