On the basis of the following data, determine the value of the inventory at the lower of cost or market. Apply lower of cost or market to each inventory item. Show your work. 
Definitions:
Inventory Period
The time span between purchasing goods for sale and their eventual sale to customers.
Restrictive Financial Policies
Restrictive financial policies are measures implemented by a company to maintain financial stability and discipline, often involving limits on capital spending, borrowing, and dividend distributions.
Current Asset Management
The practice of managing a company's short-term assets and liabilities to ensure it has sufficient liquidity to run its operations efficiently.
Pro Forma Cash Budgets
Projected budgets that estimate the inflow and outflow of cash to a business over a specified period, used for planning purposes.
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