The Vogelson Company Accumulates the Following Cost and Market Value

Essay

The Vogelson Company accumulates the following cost and market value data at December 31. $\begin{array}{ccc}&&\text { Market }\\ \underline{\text { Inventory Categories } }& \underline{\text { Cost Data } }& \underline{\text { Value Data }}\\\text { Camera } & \$ 11,000 & \$ 9,900 \\\text { Camcorders } & 7,800 & 8,500 \\\text { DVDs } & 14,000 & 12,000\end{array}$
What is the lower-of-cost-or-market of the inventory?