On the Basis of the Following Data for Barker Industries

On the basis of the following data for Barker Industries as of December 31, 2011, determine the value of the inventory at the lower of cost or market. Also, show how the merchandise 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.
$\begin{array} { | l | l | l | l | } \hline \text { Commodity } & \text { Inventory Quantity } & \text { Unit Cost Price } & \text { Unit Market Price } \\\hline \text { Size 4 } & 9 & \$ 7 & \$ 19 \\\hline \text { Size 5 } & 10 & 17 & 14 \\\hline \text { Size 6 } & 14 & 23 & 20 \\\hline \text { Size 7 } & 12 & 13 & 15 \\\hline\end{array}$