Lower-of-Cost-or-Market Method On the basis of the following data: Item Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) JFW1 SAW9 6,330 1,140 $10 36 $11 34 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.

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Inventory Valuation

Before discussing the topic inventory valuation let’s discuss the meaning of inventory. In accounting, inventory is also known as stock. Inventory means all the finished goods, materials, merchandise that a business holds for the purpose of selling it in the market with the motive of earning profit.