Bargain Barn Clothing Company had the following inventory at December 31, 2019: Quantity Unit Cost Unit NRV Blouses Model 1 350 $ 54 $ 60 Model 2 375 $ 63 $ 75 Model 3 600 $ 84 $ 78 Skirts Model 4 750 $ 90 $ 72 Model 5 435 $ 96 $108 Model 6 150 $126 $114 a Determine ending inventory by applying the lower-of-cost-or-net realizable value rule to: 1. Each item of inventory 2. Each major category of inventory 3 Total inventory b. Which of the lower-of-cost-or-net realizable value procedures from requirement A results in the lowest net income for 2019? Explain