Calculating Lower-of Cost-or-Net Realizable Value The following information is from Guccii Company's individual inventory items as of December 31, 2020. Inventory Quantity Cost per Unit Net Realizable Value per Unit Classification:Premium Item 1 64 $180 $185 Item 2 120 100 98 Item 3 160 165 175 Item 4 Classification: Classic Item 5 80 98 Item 6 40 90 95 Item 7 400 105 115 Item 8 75 112 158 120 100 224 80 Required a. Calculate lower-of-cost-or-net realizable value of Guccii's December 31, 2020, inventory applying the rule to each individual item. $ 316,730 x b. Calculate lower-of-cost-or-net realizable value of Gucci's December 31, 2020, inventory applying the rule by inventory category. $ 324,330 x C. Calculate lower-of-cost-or-net realizable value of Gucci's December 31, 2020, inventory applying the rule to total inventory. $ 330,448 x