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. Inventory Quantity Cost Per Unit Market Value per Unit (Net Realizable Value) Product Class 1: Model A 22 $125 $132 Model B 10 259 235 Model C 16 193 168 Class 2: Model D 34 284 268 Model E 17 232 254 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 Inventory Cost per Unit Cost Market Product Quantity per Unit (Net Realizable Value) Model A Lower of Cost or Market Model B Model C Model D Model E Total 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 Market Value per Unit (Net Realizable Value) Cost Cost Inventory Quantity Market Lower of Cost or Market per Unit Product Class 1 : Model A Model B Model C Subtotal Class 2: Model D Model E Subtotal Total 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 Cost per Unit Cost Market Lower of Cost or Market per Unit (Net Realizable Value) Inventory Quantity S Product Model A Model B Model Model D Model E Total