A E F G EXHIBIT 9 Determining Inventory at Lower of Cost or Market (LCM) B C D Market Value Inventory Cost per per Unit Quantity Unit (Net Realizable Value) 400 $10.25 $ 9.50 120 22.50 24.10 600 8.00 7.75 280 14.00 14.75 Item 4 Echo 5 Foxtrot 6 Sierra 7 Tango 8 Total LCM Cost $ 4,100 2.700 4.800 3,920 $15,520 Total Market $ 3.800 2.892 4.650 4,130 $15,472 2.700 4.650 3,920 $15.070 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 $110 $131 Cypress 147 170 Mountain Ash 121 241 Spruce Willow Inventory at the Lower of Cost or Market Total Cost Total Market Total Lower of C or M Inventory Item Birch Cypress Mountain Ash Spruce Willow Total D