Merchandise Inventory on the Balance Sheet

Based on the data below, how would the merchandise inventory appear on the balance sheet, assuming that the lower of cost or market is used and the cost is determined by the FIFO method? Total cost: $74,300 Total market: $72,900 Lower of cost or market: $70,400

The merchandise inventory would appear in the section, as follows: current assets long-term assets other assets current liabilities The merchandise inventory would appear in the section, as follows: Merchandise inventory-at cost (FIFO) Merchandise inventory-at market Merchandise inventory-at lower of cost (FIFO) or market Merchandise inventory-at FIFO