On the basis of the following data for Sanford Industries as of December 31, determine the value of the inventory at the lower of cost or market. Also, show how the inventory would appear on the balance sheet (assume that the cost was determined by the FIFO method). Apply lower of cost or market to each inventory item. 
Definitions:
Stereochemical Relationship
The relative spatial arrangement of atoms within molecules that dictates their chemical behavior and reactions, focusing on how these relationships affect molecular properties.
Fischer Notation
A method used to represent the three-dimensional structure of molecules using two-dimensional projections, particularly sugars.
Enantiomers
Molecules that are mirror images of each other but cannot be superimposed on each other, often exhibiting different properties in a chiral environment.
Diastereomers
Stereoisomers characterized by having distinct physical properties and not being mirror reflections of one another.
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