Dalton Boats, Inc. counted an inventory at the end of January of 22 boats as follows:​
​ Compute the inventory value at the lower of cost or market.

Lower Of Cost

In accounting, a principle stating that inventory should be recorded at either its original cost or its market value, whichever is lower.

Market Value

Market value determines an item's current selling price in the marketplace, taking into consideration supply and demand factors.

Inventory Value

The total cost or market value of all the goods and materials held by a company intended for sale.