Lower-of-Cost-or-Market Method On the basis of the data shown below: Inventory Cost per Item Quantity Unit A13Y 96 $51 Market Value per Unit (Net Realizable Value) $47 26 BJ54 186 24 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. 9,348 x Feedback 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 each item