Lower-of-cost-or-Market Method On the basis of the data shown below: Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Item A13Y 132 $59 $57 05T4 256 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. EXHIBITS A B C F Determining Inventory at Lower of Cost or Market (LCM) 3 Item Echo 5 Foxtrot 6 Sierra Inventory Cost per Quantity Unit 400 $10.25 120 22.50 600 8.00 280 14.00 D Market Value per Unit (Net Realizable Value $ 9.50 24.10 7.75 14.75 Cost $ 4,100 2.700 4,800 3.920 $15.520 Total Market $ 3.800 2,892 4,650 4,130 $15.472 LCM $ 3,800 2,700 7 Tango Total 3.920 $15.070