Determine the value of the inventory to be reported on the balance sheet by applying lower-of-cost-and-net-realizable-value to the following data. Item Quantity Cost Price/Unit Market Prce/Unit Selling Costs 001 5 $ 29 $ 30 $ 100 002 8 $ 40 $ 35 $ 50 In the table below, determine the cost and NRV of each inventory item and total each column. Then, in the "Comparison of Lower of Cost and NRV" column, state which is lower, cost or NRV Comparison of Lower of Cost and NRV NRV Item Quantity Cost Price/Unit 001 5 5 29 Market Price/Unit Selling Costs Cost $ 30 $ 100 002 8 $ 40 $ 35 $ 50 Total