Compute the lower-of-cost-or-market valuation for O’Connor’s inventory.

Connor Video Center accumulates the following cost and market data at December 31.

Cost Data

Market Data

Cameras

$12,500

13,400

Camcorders

9,000

9,500

DVDs

4-Aug

12,800

Compute the lower-of-cost-or-market valuation for O’Connor’s inventory.