lower-of-cost-or-market method
on the basis of the data shown below:
item inventory
quantity cost per
unit market value per unit
(net realizable value)
a13y 79 $35 $33
tx24 165 17 19
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.