a. Determine the value of the inventory at the lower of cost or market applied to each item in the inventory. c. Determine the value of the inventory at the lower of cost or market applied to total inventory. Lowen of-cost-or-market inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form ilustrated in Exhibit to. b. Determine the value of the inventory at the lower of cost or market applied to each class of inventory