Accounting 201 Question is in the attachment. 1. Compute the lower of cost or market for ending inventory assuming Rcy applies the lower of cost or market rule to inventory as a whole. Must Rey adjust the reported inventory value? Explain.2. Assume that Rcy had instead applied the lower of cost or market rule to each product in inventory. Under this assumption, must Rey adjust the reported inventory value? Explain.Part BSelected accounts and balances for the three months ended March 31, 2017. for Business Solutions follow.