eBook Lower of Cost-or-Market Inventory Data on the physical inventory of Ashwood Products Company as of December 31 follow: Inventory Market value per Unit (Net Description Quantity Realizable Value) B12 38 $52 141 18 180 619 33 126 188 18 550 N94 400 2 18 P24 90 250 R66 T33 140 20 216 15 752 Quantity and cost data from the last purchases invoice of the year and the next to the last purchases invoice are summarized as follows: Quantity and cost data from the last purchases twoice of the year and the next to the last purchases we are trzed as follows: Last Next to the last Purchases Invoice Purchases Invoice Quantity Unit Quantity Unit Description Purchased Cost Purchased Cost 312 30 $ 60 30 $59 5:41 35 178 20 150 G19 20 120 25 129 LBS 30 563 10 560 N94 500 8 500 7 P24 BO 22 50 21 R66 5 248 4 260 TJO 100 21 100 19 10 750 9 Required: Determine the inventory at cost and also at the lower of cost or market applied on an item by Rembasts, using these fout method. Record the appropriate unit costs on the inventory sheet, and complete the priong of the inventory When there are two different unit costs applicable to an dem proceed as follow 1. Insert the quantity and unit cost of the last purchase 2. On the following line, insert the quantity and unit cost of the next to the last purchase 3. Total the cost and market columns and insert the lower of the two totals in the LCM column The first item on the waventory Sheet has been completed as an example Inventory Sheet 216 745