L ASSET VALUATION AND DEPRECIATION EXERCISES Assets can be valued using either a cost-based valuation system or a market-based valuation system. For each asset listed, place a "C" in the blank under the most appropriate valuation method to use for that asset when using a cost system. Place an "M" in the blank under the valuation method that should be used under a machet based valuation system. Valuation Methods ASSET Cost loss Depreciation Production Market Cost Cost Valus C Tractor Orain sorghum Purchased Feeder cattle Parched beef brooding cows Raled beef brooding cows Wheat crop growing in field Land Hay bar