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. Item Gear X Gear Y Total Inventory Quantity 175 225 Unit Cost Unit Market Price Price $33 27 $29 28 Cost Total Market

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