Question

Green Leaf Company had the following information available on December 31:

Item	Units			Cost			Total cost			Market value			Total market value
Wheelbarrows		100		$	32.10		$	3,210		$	33.00		$	3,300
Shovels		320			14.00			4,480			12.00			3,840
Gloves		80			8.60			688			9.40			752
Hoses		140			11.00			1,540			10.50			1,470
							$	9,918					$	9,362
​
Management applies the LCM rule on the basis of inventory category and includes wheelbarrows and hoses in the large implement category and shovels and gloves in the small implement category. What is the write-down required?