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Griffin Company had the following inventory at the end of the year: Unit Price Quantity Cost Market Valves: Model Q 190 $10 $12 Model R 200 8 10 Model S 180 12 10 Gaskets: Model Alpha 60 55 50 Model Beta 50 70 65 Model Gamma 40 90 95 Griffin Company uses the lower of cost or market method (LCM) to value its inventory. Required: Determine the cost of ending inventory by using the lower of cost or market method applied to each item of inven Cost of Ending Inventory: $ Il X