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That's where the lower of cost and net realisable value comes into it.
What you need to do is start with a stock take, noting if any individual items are damaged or need to be written off for any reason.
Then each item needs to be valued (only identical items can be valued as a group). It sounds like some will be valued at cost - glasses which the business expects to sell at a price higher than cost - but some will be valued at net realisable value, where this is lower. This might be end of line styles which will only sell at a discount, for instance.
You also need to make sure that all costs of purchase are included in the valuation, including carriage costs etc and NRV is expected sale price less any expenses incurred in bringing the item to a consition in which it can be sold, so I would suggest that the cases are part of the cost of bringing the glasses to a saleable condition. But as with so many things, you need to use whatever policies have been used in the past unless a decision has been made to alter them, so maybe that will help you decide on the best way to do it?
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