< 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 Cost Per Market Value per Unit Quantity Unit (Net Realizable Value) Class 1: Model A 31 $60 $67 Model B 32 161 144 Model C 18 52 74 Class 2: Model D 50 Model E 40 45 164 157 218 217 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 Market Value per Unit (Net Realizable Value) Lower of Cost or 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 Market Value per Unit (Net Realizable Inventory Quantity Product Cost per Unit Model A Model B Model C Model D Model E Total Value) Lower of Cost Market Cost or Market b. Determine the value of the inventory at the lower of cost or market applied to each class of inventory. Inventory at the Lower of Cost or Market Inventory Cost Market Value per Unit (Net Realizable Value) Lower of Cost or Inventory at the Lower of Cost or Market Market Value per Unit (Net Realizable Inventory Cost Product Quantity per Unit Class 1: Model A Model B Model C Subtotal Class 2: Value) Model D Model E Total Subtotal === Lower of Cost Market 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 Market Value Lower of D Total Subtotal 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 Market Value per Unit (Net Realizable Inventory Cost Product Quantity per Unit Model A Model B Model C Model D Model E Total Value) Lower of Cost or Market Cost Market