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	41	$48	$26
Cypress	16	231	215
Mountain Ash	43	219	212
Spruce	36	182	193
Willow	44	229	211

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