Lower-of-Cost-or-Market Inventory i 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 Market Value per Unit Unit (Net Realizable Value) Class 1: Model A 27 $156 $147 Model B 20 168 178 Model C 44 98 119 Class 2: Model D 48 227 < Model E 18 279 222 299 a. Determine the value of the inventory at the lower of cost or market applied to each item in the inventory. Inventory at the Lower of Cost or Market Inventory Quantity Cost per Unit Market Value per Unit Cost Market Lower of Cost or Market (Net Realizable Value) Product Model A 27 156 147 Model B 20 168 V 178 Model C 44 98 119 Model D 48 227 222 Model E 18 279 299 Total Ferhat b. Determine the value of the inventory at the lower of cost or market applied to each class of inventory, Cost Inventory Product per Unit Quantity Class 1: Model A Model B Model C Subtotal Class 2: Inventory at the Lower of Cost or Market Market Value per Unit (Net Realizable Value) Cost Market Lower of Cost or Market 0000 0 Model D Model E Total Subtotal Feedback 888 Check My Work Under the class method, a company applies the lower of cost or market to the total cost and total market for each class of items m Class 1 and Class 2 that will be used to determine the total lower of cost or market. Check My Work Under the class method, a company applies the lower of cost or market to the total cost and total market for each cla Class 1 and Class 2 that will be used to determine the total lower of cost or market. c. Determine the value of the inventory at the lower of cost or market applied to total inventory. Inventory at the Lower of Cost or Market Inventory Cost Market Value per Unit Cost Market Lower of Cost or Market Product Quantity per Unit (Net Realizable Value) Model A Model B Model C Model D Model E Total Feedback Check My Work Under the lower of cost or market applied to total inventory, you determine the total cost and the total market for the ent Feedback Check My Work Partially correct