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 10.

Commodity	Inventory Quantity	Unit Cost Price	Unit Market Price
Ash	80	$140	$125
Aspen	120	90	112
Beech	30	75	74
Maple	75	88	86
Oak	60	140	145

Inventory at the Lower of Cost or Market
Commodity	Total Cost	Total Market	Total Lower of C or M
Ash	$	$	$
Aspen
Beech
Maple
Oak
Total	$	$	$