Martinez Company's ending inventory includes the following items.

Martinez Company's ending inventory includes the following items.

 

		Per Unit
Product	Units	Cost		Market
Helmets	24	$	50	$	54
Bats	17		78		72
Shoes	38		95		91
Uniforms	42		36		36

 
Required:

Compute the lower of cost or market for ending inventory applied separately to each product. Explanation:     Per Unit Total Total LCM applied to:   Product Units Cost Market Cost Market Products   Helmets 24 $50   $54   $1,200   $1,296   $1,200     Bats 17 78 72 1,326 1,224 1,224   Shoes 38 95 91 3,610 3,458 3,458   Uniforms 42 36 36 1,512 1,512 1,512                 $7,648   $7,490   $7,394           Lower of cost or market of inventory by product = $7,394