The controller of Scheller Company is applying the lower-of-cost-or-market basis of valuing its ending inventory. The following information is available: 
Instructions
Compute the value of the ending inventory by applying the lower-of-cost-or-market basis.
Definitions:
New Memories
The process by which experiences are encoded, stored, and retrieved as fresh mental representations in the brain.
Calories
Units of energy used to measure the energy content of foods and beverages, essential for human survival but excessive intake can lead to weight gain.
Sleep Terrors
Frightening dreamlike experiences that occur during the deepest stage of non-REM sleep, shortly after the child has gone to sleep.
Deep Sleep
A stage of sleep characterized by slow brain waves, decreased heart rate and breathing, and limited muscle activity, essential for physical and mental restoration.
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