The Following Information Concerns Several of the Inventory Items at DC's

The following information concerns several of the inventory items at DC's. $$\begin{array} { | c | c | c | c | } \hline \text { Description } & \text { Quantity } & \text { Unit Cost } & \text { Market Value } \\\hline \text { Department A: } & & & \\\hline \text { Model DC 225 } & 40 & \$ 16.90 & \$ 17.50 \\\hline \text { Model DC 364 } & 65 & 28.75 & 25.00 \\\hline \text { Model DC 513 } & 50 & 28.00 & 26.50 \\\hline \text { Department B: } & & & \\\hline \text { Model AR 137 } & 13 & 59.00 & 60.00 \\\hline \text { Model AR 226 } & 25 & 97.00 & 94.75 \\\hline \text { Model AR 196 } & 14 & 125.00 & 122.50 \\\hline\end{array}$$ Determine the amount of inventory to be reported on the financial statements using the lower of cost or market method of valuation under each of the following options.
1. Lower of cost or market for each item separately
2. Lower of total cost or total market
3. Lower of total cost or total market by department

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1. $8,670....

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