gnature Problem Saved SP 5 Serial Problem Business Solutions (Algo) LO A3, P2 Part A Santana Rey of Business Solutions is evaluating her inventory to determine whether it must be adjusted based on lower of cost or market rules. Business Solutions has three different types of software in its inventory, and the following information is available for each. Inventory Items Units Office productivity Desktop publishing Accounting 6 $ 79 5 6 106 93 Per Unit Cost Market $ 77 103 99 Required: Compute the lower of cost or market for ending inventory assuming Rey applies the lower of cost or market rule to each product in inventory. Must Rey adjust the reported inventory value? Part B Selected accounts and balances for the three months ended March 31, 2022, for Business Solutions follow. Beginning inventory, January 1 Cost of goods sold Ending inventory, March 31 $ 0 33,583 1,562 Compute inventory turnover and days' sales in inventory for the three months ended March 31, 2022. Complete this question by entering your answers in the tabs below. Part A Part B Compute the lower of cost or market for ending inventory assuming Rey applies the lower of cost or market rule to each product in Inventory. Must Rey adjust the reported inventory value? BUSINESS SOLUTIONS Per Unit < Prev 1 of 1 Next > LCM Applied Help Part B Selected accounts and balances for the three months ended March 31, 2022, for Business Solutions follow. Beginning inventory, January 1 Cost of goods sold Ending inventory, March 31 $ 0 33,583 1,562 Compute inventory turnover and days' sales in inventory for the three months ended March 31, 2022. Complete this question by entering your answers in the tabs below. Part A Part B Compute the lower of cost or market for ending inventory assuming Rey applies the lower of cost or market rule to each product in inventory. Must Rey adjust the reported inventory value? BUSINESS SOLUTIONS Per Unit Inventory Items Units Total Cost Total Market LCM Applied To Items Cost Market Office productivity 6 $ 79 $ Desktop publishing 5 106 77 103 Accounting 6 93 99 Totals Lower of cost or market for inventory applied separately to each product Rey must adjust the reported inventory value Part A Part B > Complete this question by entering your answers in the tabs below. Part A Part B Compute inventory turnover and days' sales in inventory for the three months ended March 31, 2022. Choose Numerator: Inventory Turnover Choose Denominator: Days' Sales in Inventory Choose Numerator: Choose Denominator: Inventory Turnover Inventory Turnover < Part A Part D Ratio days