Calculating Lower-of Cost-or-Net Realizable Value The following information is from Guccii Company's individual inventory items as of December 31. Inventory Classification:Premium Quantity Cost per Unit Net Realizable Value per Unit Item 1 32 $180 $185 Item 2 60 100 98 Item 3 80 165 175 Item 4 56 158 120 Classification: Classic Item 5 40 Item 6 20 220 100 90 98 95 Item 7 200 105 Item 8 112 58 115 80 75 SS Required a. Calculate lower-of-cost-or-net realizable value of Guccii's December 31 inventory applying the rule to each individual item. $ b. Calculate lower-of-cost-or-net realizable value of Guccii's December 31 inventory applying the rule by inventory category. $ c. Calculate lower-of-cost-or-net realizable value of Guccii's December 31 inventory applying the rule to total inventory. $