In applying the lower$-$ol$-$cost$-$ormarket $($LCM$)$ rule to inventories, firms may apply the rule to inventory as a whole, categories of inventory or individual inventory items. Super Markets lnc$.$ uses categories to apply LCM and the yoar$-$end quantity, cost and market values by product category are shown below :

$\backslash$table$[[\backslash$table$[[$Product$],[$Category$]],$Units,Cost,Market$],[$Produce$,1000,$$$5\mathrm{.}00,$$$4\mathrm{.}00$