EX6#13: International Tractor Inc. sells 3 different models of tractors. The cost and market value of their inventory of tractors are as follows: Cost Market Small Tractor $64,000 $61,000 Diesel Tractor,v.8 $152,000 $167,000 Diesel Tractor, v.12 $290,000 $260,000 Determine the value of the company's inventory under the lower-of-cost-or market method (LCM). A. $473,000 B. $506,000 c. $488,000 D. $521,000 HW6#14a-Cost Flows Inventory Methods using a periodic inventory system: Instructions: Using the data below and worksheet on following slide a. Determine the Cost of Goods Available for Sale for reams of paper for Office Outlet Inc. b. Determine the Ending Inventory and Cost of Goods Sold under each of the assumed cost flow methods-FIFO, LIFO, and Average Cost. Sold 1,500 units and Inventory information Date Total Cost Units 1-Jan 20-Feb 5-May 12-Aug 8-Dec Unit Cost 100 600 500 400 100 $8.00 $9.00 $10.00 $11.00 $12.00 hapter 6 In-Class Exercises Reporting and Analyzing Inventory due at beginning of class on October Brd