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 Exh Inventory Quantity Cost Per Unit Market Value per Unit (Net Realizable Value) Product Class 1: Model A 16 $82 $88 Model B 46 120 124 Model 44 111 103 Class 2: Model D 19 251 261 Model E 40 205 186 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 Quantity per Unit (Net Realizable Value) Lower of Cost or Market Product Model A Model B 88 Model 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 Cost per Unit Market Value per Unit (Net Realizable Value) Inventory Quantity Cost Market Lower of Cost or Market 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 Inventory Quantity Market Value Cost per Unit per Unit (Net Realizable Value) Cost Market Lower of Cost or Market Product Model A Model B Model C Model D Model E 88 Total