Applying the Lower of Cost or Market to Each Item

Essay

Applying the lower of cost or market to each item of inventory, what should the total inventory value be for the following items?​ $$\begin{array} { | c | c | c | c | c | c | } \hline \text { Item } & \begin{array} { c } \text { Inventory } \\\text { Quantity }\end{array} & \begin{array} { c } \text { Cost per } \\\text { Unit }\end{array} & \begin{array} { c } \text { Market } \\\text { value per } \\\text { Unit }\end{array} & \begin{array} { c } \text { T otal } \\\text { Cost }\end{array} & \begin{array} { c } \text { Total } \\\text { Market }\end{array} \\\hline \text { A } & 300 & \$ 15.00 & \$ 14.50 & \$ 4,500 & \$ 4,350 \\\hline \text { B } & 200 & 14.00 & 15.00 & 2,800 & 3,000 \\\hline \text { C } & 100 & 17.00 & 17.50 & 1,700 & 1,750 \\\hline\end{array}$$