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:
Gold Discovered
The event or process of discovering gold deposits in an area, often leading to gold rushes and significant social and economic changes.
1848
A year marked by widespread revolutions across Europe, driven by demands for political and social reform.
Core Value
A principal or fundamental belief guiding the behavior, practices, and decision-making of an individual or organization.
Early Nineteenth Century
A period dating from 1801 to 1850, often associated with significant socio-political changes and early industrialization.
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