6) Use the following to answer the question below: Memphis Wholesale Market applies the lower of cost or net realizable valuation to individual products and has collected the following data: Product A $100 70 Product B $125 Product C $80 Selling price Cost Costs to sell 75 80 15 20 Determine the inventory book value for Products A, B, and C. B= C=__ A= Use the following to answer below. In the following questions, inventory errors are noted for 2021. Assume that the errors are not discovered until 2022, and that the company uses a periodic inventory system. Indicate the effect of the error, if any, on the accounts noted in the columns, using the following code: U=Understated; O=Overstated; NE = No effect | Cost of goods sold | Retained earnings Error Double counted items in ending inventory Cost of goods sold | Retained earnings Error Unrecorded purchases Cost of goods sold | Retained earnings Error Understated beginning inventory Cost of goods sold | Retained earnings Error The company ignored its purchase of inventory that was bought FOB shipping Ipoint and was in transit at year end