Whitman Corporation Sells Six Different Products When Applying the Lower of Cost or Market Rule to Available

Whitman Corporation sells six different products. The following information is available on December 31: $$\begin{array} { | l | c | c | c | c | } \hline \text { Inventory Item } & \text { Units } & \text { Cost per unit } & \text { Market value per unit } & \text { Estimated Selling Price } \\\hline \text { Tin } & 30 & \$ 500 & \$ 505 & \$ 515 \\\hline \text { Titanium } & 10 & 5,000 & 4,950 & 5,100 \\\hline \text { Stainless Steel } & 40 & 2,000 & 1,910 & 1,985 \\\hline \text { Aluminum } & 40 & 350 & 285 & 290 \\\hline \text { Iron } & 20 & 400 & 410 & 425 \\\hline \text { Fiberglass } & 20 & 300 & 295 & 310 \\\hline\end{array}$$ When applying the lower of cost or market rule to each item, what will Whitman's total ending inventory balance be?

A) $173,000
B) $166,200
C) $166,550
D) $166,400