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. Apply lower of cost or market to each inventory item, as shown inExhibit 10.

Commodity	Inventory Quantity	Cost per Unit	Market Value per Unit (Net Realizable Value)
JFW1	121	$50	$47
SAW9	247	26	30

This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.

Open spreadsheet

Determine the value of the inventory at the lower of cost or market.fill in the blank 1 of 1$