Ch Problem 6-4B Report inventory using lower of cost and net realizable value (L06-6) [The following information applies to the questions displayed below A home improvement store, like Lowe's, carries the following items: Ed Fin Cost per ntory Items QuantityUnit per Unit 11O s 6.10 60 140 50 170 $ 6.60 810 170 20 20 4.10 5.60 Hammens Saws Screwdrivers 9.10 1.30 2430 4 60 Drills -gaon paint cans 190 510 Pointbrushes value: 5.00 points Problem 6-4B Part 1 Required: 1. Compute the total cost of inventory Total cost 4,327 References eBook & Resources Worksheet Difficulty: 3 Hard Problem 6-4B Part 1 Learning Objective: 06-06 Apply the lower of cost and net realizable value rule for inventories Ask.y uestion Check my work 5.00 points 2. Determine whether each inventory ltem would be reported at cost or net realizable value. Multiply the quantity of each inventory tem by the appropriate cost or NRV amount and place the total in the "Lower of Cost and NRV column. Then determine the total of that column. (Round "Cost per Unit" to 2 decimal places.) Lower of Cost Inventory Items Cost or NRV and NRV per Hammers Saws Screwdrivers Drills 1-galilon paint cans Paint brushes Total unit Total