Inventory Cost per Market Value per Unit Item Quantity Unit (Net Realizable Value) IA17 151 $30 $25 TX24 294 12 7 Determine the value of the inventory at the lower of cost or market by applying lower of cost or market to each inventory item, as shown in Exhibit 9 8,058 X Feedback to nse Check My Work Under lower-of-cost-or-market, for each item in inventory, choose the lower of total cost price or the total market price as the assigned value for computing inventory cost. First you must compute the total cost and total market value for olic each item. on Utilit May1 14.5