hvert home and try to be the one of the Teme Cost Replacement Cost Not Reliable Value 1 5:0.00 1 1.10 300 15.50 135 14.00 16.00 12.00 17.00 100 2500 25.06 25. Required: 1. Corte the round your is the restent Co NRV 9.10 x 1 7.10 > 13.50 X 13.00 X 35 Compete with Them Cet art Compute the total inventory value if the lower of cost or net realizable value is spelled to each individual item 2. Anume that Palmquist uses the LIPO cost flow assumption, Compute the correct Inventory value under the lower of cost or market rule. Round your answers to the nearest cent. Lower of Cost or Market Item 1 Compute the total inventory value the lower of cost or marcat is applied to such individual item 3. At that Paimquit uses IFRS Compute the correct inventory Vale under the lower or cost or notrete valore Round your answers to the nearest cent Lower of Item Castor NRV 1 5 3 Conspute the total entory value if the lewer of cost ar market is led to the dividunt 25 X eBook Inventory Write-Down Palmquist Company has five different inventory items and applies the inventory valuation rules on an from the company's records: Item Units Cost Replacement Cost Net Realizable Value 1 500 $10.00 $ 9.10 $9.20 2 400 8.00 8.10 7.80 3 300 15.00 13.50 14.00 4 200 18.00 12.00 17.00 5 100 25.00 25.50 25.30 Required: 1. Assume that Palmquist uses the FIFO cost flow assumption. Compute the correct inventory value unde Email Instructor Save and Exit Submit Assignment for Grading All work saved 2. Assume that Palmquist uses the LIFO cost flow assumption. Compute the correct inventory value under the lower of cost or market Lower of Item Cost or Market 1 $ 2 3 4 5 Compute the total Inventory value if the lower of cost or market is applied to each individual item. 3. Assume that Palmquist uses IFRS. Compute the correct Inventory value under the lower of cost or net realizable value rule. Round your Lower of Item Cost or NRV 1 $ 2 3 5 Compute the total inventory value if the lower of cost or market is applied to each individual item. $ 25 X