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Ray's Sounds has accumulated the following cost and market data on March 31: Cost Data Market Data iPods $24,000 $20,400 Cell phones $18,000 $19,000 DVDs

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Ray's Sounds has accumulated the following cost and market data on March 31: Cost Data Market Data iPods $24,000 $20,400 Cell phones $18,000 $19,000 DVDs $28,000 $25,600 Using the lower-of-cost-or-market, how much is the value of the ending inventory? $65,000 $63,100 $64,000 $70,000 $71,000

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