Brooks Company carries three inventory items. The following information pertains to the ending inventory:
| Item |
Quantity |
Unit
Cost |
Unit
Market Value |
| A |
220 |
$ |
12 |
|
$ |
11 |
|
| F |
245 |
|
17 |
|
|
16 |
|
| K |
174 |
|
5 |
|
|
8 |
|
Required
a. Determine the ending inventory that Brooks will report on the balance sheet, assuming that it applies the lower-of-cost-or-market rule to individual inventory items.