b. Determine the value of the inventory at the lower of cost or market applied to each class of inventory. a. Determine the value of the inventory at the lower of cost or market applied to each item in the inventory. Lower-of-cost-oe-market inventory On the basis of the following data, determine the value of the inventory at the lawer of cost or market. Assemble the data in the form lilustrated in Exhibit 10 . c. Determine the value of the inventory at the lower of cost or market applied to total inventory