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 . 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. b. Determine the value of the inventory at the lower of cost or market applied to each class of inventory. Inventory at the 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 c. Determine the value of the inventory at the lower of cost or market applied to total inventory