On the basis of the data shown below:

Item	Inventory Quantity	Unit Cost Price	Unit Market Price
Raven 10	1,200	$115	$112
Dove 23	6,500	17	22

Determine the value of the inventory at the lower-of-cost-or-market. (Note: Apply lower-of-cost-or-market to each inventory item, as shown in Exhibit 10.)