EX.06-19 Inventory on the balance sheet. On the basis of the following data, determine the value of the inventory at the lower of cost or market. Refer to exhibit 9 for guidance. Assuming that the cost was determined by the FIFO method, show how inventory would appear on the balance sheet.

Joe pays ann to mow his lawn and ann mows vanna's lawn by mistake. vanna peers out her window and sees ann mowing, yet says nothing to ann about her mistake since vanna needs to have her lawn mowed. when ann approaches vanna for payment, vanna refuses, arguing that she never asked ann to mow her lawn. under these circumstances, ann can recover payment from vanna under: