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. Market Total Item Inventory Quantity Cost per value per Unit Unit Cost Market LCM A 300 $15.00 $14.50 $4,500 $4,350 B 200 14.00 15.00 2,800 3,000 C 100 17.00 17.50 1,700 1,750 Total