Impact Corporation sells three different products. The following information is available on December 31: Inventory Item Cost per unit Market value per unit $16.00 $ 8.00 $12.00 $ 4.00 $16.00 $12.00 When applying the lower of cost or market rule to each item, what will be reported as its cost of ending inventory on December 31? Select one: O a. $9,200 O b. $8,800 O c. $10,600 O d. $8,000 Which of the following is not an inventory account for manufacturing companies? Select one: O a. Work-in-process O b. Finished goods O c. Cost of goods sold d. Raw materials