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 10. Item Inventory Quantity Market Value per Unit (Net Realizable Value) Cost per Unit JFW1 61 $23 $21 SAW9 120 12 14