Lower-of-Cost-or-Market Method On the basis of the following data, determine the value of the inventory at the lower-of-cost-or-market by applying lower-of-cost-or-market to each inventory item, as shown in Exhibit 9. Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) $33 JFW1 70 $31 SAW9 141 16 13 Feedback Check My Work Under lower-of-cost-or-market, for each item in inventory, choose the lower of total cost price or the total market price as the assigned value for computing inventory cost. First you must compute the total cost and total market for each item. Learning Objective Exhibit 9: Determining inventory at Lower of Coet or Market (LCM) Total Commodity Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Cost Market LCM Echo 400 $10.25 $9.50 $ 4,100 $3,800 $3,800 Bouton 00 100 10 Feedback Check My Work Under lower-of-com-or markot, for each tom in Inventory, choose the lower of total cost price or the total market price as the assigned value for computing inventory cout. First you must compute the total cost and total market for each item Looming Objective Exhibit : Determining Inventory at Lower of Cost or Market (LCM) Total Commodity Inventory Quantity Cost per Unit Market value per Unit (Net Realizable Value) Cost Market LCM Echo 400 $10.25 $9.50 $ 4,100 $3,800 $3,800 Foxtrot 22.50 24.10 2,700 2,892 2,700 Sierra 600 I 4,800 4,650 4,650 Tango 14.00 14.75 3,920 4,130 3,920 Total $15,520 $15,472 $15,070 120 8.00 7.75 280