The question I cannot get at all is :

ITEM Quantity on hand unit cost when acquired Market cost at year end
A 50 $20 $19
B 100 45 45
C 20 59 62
D 40 40 36

QUESTION:
Compute the valuation for the December 31,2012 inventory using lower-of-cost-or market basis?
Thanks I can't solve this to save my life!