Lower$-$of$-$cost$-$or$-$market inventory

On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit $10.$

Product

Inventory

Quantity

Cost Per

Unit

Market Value per Unit

$($Net Realizable Value$)$

Class $1$:

Model A $40$ $$219$ $$238$

Model B $236248$

Model C $38247259$

Class $2$:

Model D $31222223$

Model E $23196212$

Question Content Area

a$.$ Determine the value of the inventory at the lower of cost or market applied to each item in the inventory.