Boulder,Inc Using the Lower-Of-Cost-Or-Market Rule,compute the Total Valuation for Each Inventory

Boulder,Inc.is computing its inventory at December 31,2010.The following information relates to the five major inventory items regularly stocked for resale $$\begin{array}{l}\begin{array} { cc} \\\\\text { Item}& \text { Item Ouantity on Hand }\\\mathrm{A} & 100 \\\mathrm{~B} & 150 \\\mathrm{C} & 25 \\\mathrm{D} & 300 \\\mathrm{E} & 700\end{array}\begin{array} { cc } \text { December 31,2009 } & \text { Replacement Cost } \\\text { Unit Cost when } & \text { (Market) at December 31. } \\\text { Acquired (FIFO) } & 2009\\\$ 40 & \$ 35\\\$ 50 & \$ 52 \\\$ 100 & \$ 80 \\\$ 60 & \$ 62 \\\$ 15 & \$ 12\end{array}\end{array}$$


Using the lower-of-cost-or-market rule,compute the total valuation for each inventory item at December 31,2010,and the total inventory valuation.