Nolen Company is preparing the annual financial statements dated December 31, 2015. Information about inventory stocked for regular sale follows:

Item		Quantity on Hand			Unit Cost When Acquired			Replacement Cost (market) at year end
A		50			$20			$19
B		100			45			45
C		20			59			62
D		40			40			36

Compute the valuation for the December 31, 2015, inventory using the lower-of-cost-or-market basis.

Total ending inventory __________

Nolen Company is preparing the annual financial statements dated December 31, 2015. Information about inventory stocked for regular sale follows: Unit Cost When Replacement Cost (market) at year end Quantity Item on Hand Acquired 50 100 20 40 $20 45 59 40 $19 45 62 36 Compute the valuation for the December 31, 2015, inventory using the lower-of-cost-or-market basis Total ending inventory