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 Market Value per Unit Unit (Net Realizable Value) Class 1: Model A 45 $76 $90 Model B 34 272 286 Model C 21 267 275 Class 2: Model D Model E 22 22 62 64 26 178 168 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) Cost Market Lower of 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 at the Lower of Cost or Market Market Value per Unit (Net Realizable Inventory Cost Product Value) Quantity per Unit Cost Market Class 1:1 Model A Model B Model C Subtotal Class 2: Model D Lower of Cost or Market 0 Model E Total Subtotal c. Determine the value of the inventory at the lower of cost or market applied to total inventory. < c. Determine the value of the inventory at the lower of cost or market applied to total inventory. Inventory Inventory at the Lower of Cost or Market Market Value Cost per Unit (Net Realizable Lower of Cost or Market Value) Cost Market Product Quantity per Unit Model A. Model B Model C Model D Model E Total