The Entertainment Center accumulates the following cost and market data at December 31. 
What is the lower-of-cost-or-market value of the inventory?
Definitions:
Price
The financial cost of purchasing a product or service.
Apples
Commonly used as an example in economics, representing a tangible good that can be exchanged or consumed.
Bananas
A tropical fruit with a signature yellow peel and soft, sweet flesh, widely consumed around the world and rich in potassium.
Perfect Substitutes
Perfect substitutes are two goods that can be used in place of each other with no loss of utility or preference by consumers.
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