1. On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9.

   Inventory Item	Inventory Quantity	Cost per Unit	Market Value per Unit (Net Realizable Value)
   Birch	12	$225	$211
   Cypress	25	75	59
   Mountain Ash	21	280	295
   Spruce	22	167	186
   Willow	36	60	61

   Inventory at the Lower of Cost or Market
   Inventory Item	Total Cost	Total Market	Total LCM
   Birch	$fill in the blank 1	$fill in the blank 2	$fill in the blank 3
   Cypress	fill in the blank 4	fill in the blank 5	fill in the blank 6
   Mountain Ash	fill in the blank 7	fill in the blank 8	fill in the blank 9
   Spruce	fill in the blank 10	fill in the blank 11	fill in the blank 12
   Willow	fill in the blank 13	fill in the blank 14	fill in the blank 15
   Total	$fill in the blank 16	$fill in the blank 17	$fill in the blank 18