The Jewel Fool had the following inventory items on hand at the end of the year.

	Quantity	Cost per Item			Market Value per Item
Necklaces	10	$	71		$	66
Bracelets	50		36			56

Determine the lower of cost or market per unit and the total amount that should be reported on the balance sheet for each item of inventory.

	Lower of Cost or Market per Unit	Total Amount Reported
Necklaces	?	?
Bracelets	?	?
Total	?	$?