On the basis of the data shown below: Item JFW1 SAW9 Inventory Quantity 5,750 1,040 EXHIBIT 9 Determining Inventory at Lower of Cost or Market (LCM) Cost per Unit $9 1 2 3 4 Echo 27 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 in Exhibit 9. A Item Market Value per Unit (Net Realizable Value) 5 Foxtrot 6 Sierra 7 Tango 8 Total 9 B $10 C 120 600 280 24 Inventory Cost per Quantity 400 Unit $10.25 22.50 8.00 14.00 D Market Value per Unit (Net Realizable Value) $9.50 24.10 7.75 14.75 E Cost $4,100 2,700 4,800 3,920 $15,520 F Total Market $3,800 2,892 4,650 4,130 $15,472 G LCM $ 3,800 2,700 4,650 3,920 $15.070