Compute the Lower-Of-Cost-Or-Market Valuation for Gantner Company's Total Inventory Based

Essay

Compute the lower-of-cost-or-market valuation for Gantner Company's total inventory based on the following: $\begin{array}{ccc}\text { Inventory Categories }& \text { Cost Data }& \text { Market Value Data }\\\hline\text { A } & \$ 18,000 & \$ 16,900 \\\text { B } & 13,900 & 14,600 \\\text { C } & 21,000 & 20,500\end{array}$