Determine the value of the inventory at the lower of cost or market, assuming LCM is applied to each class. Inventory Quantity Cost per Unit Market Value per Unit (Net Realizable Value) Item Class 1: Bay Palomino Subtotal Class 2: Chestnut Pinto Subtotal a. $546 O b. $733 O c. $548 O d. $574 3 13 10 $33 27 $17 14 $29 23 $26 21

Determine the value of the inventory at the lower of cost or market, assuming LCM is applied to each class. a. $546 b. $733 C. $548 d. $574