4. The following inventory items are listed below. Jillian needs to value them appropriately for her financial statements by using the Lower of Cost or Market. Please give the correct valuation for the entire group of items:
Item Cost Estimated Selling Price Market Value
Barbell $100 $75 $80
Boxing Gloves $25 $10 $30
Treadmill $750 $725 $800
Stair Climber $600 $200 $150
Elliptical $200 $500 $350
a. $1675
b. $1510
c. $1410
d. $1205
| Item | Cost | Market Value | Lower of cost or Market value |
| Barbell | $100 | $80 | $80 |
| Boxing Gloves | $25 | $30 | $25 |
| Treadmill | $750 | $800 | $750 |
| Stair climber | $600 | $150 | $150 |
| Elliptical | $200 | $350 | $200 |
| Total Cost of Inventory | $1,205 | ||
4. The following inventory items are listed below. Jillian needs to value them appropriately for her...