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 16 $121 $139 Model B 33 93 98 Model C 25 275 257 Class 2: Model D Model E 22 21 296 42 74 289 49 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 Cost Market Value per Unit Product Model A Quantity per Unit (Net Realizable Value) Cost Market Lower of Cost or Market 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 Product Model A Model B Model C Model D Model E Total Inventory Cost Market Value per Unit Quantity per Unit (Net Realizable 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 Market Value. b. Determine the value of the inventory at the lower of cost or market applied to each class of inventory Inventory Quantity Cost per Unit Product Class 1: Model A Model B Model C Subtotal Class 2: Model D Model E Total Subtotal Inventory at the Lower of Cost or Market Market Value per Unit (Net Realizable Value) 88 8,88 Cost Market Lower of Cost or Market 10000 10000 00 c. Determine the value of the inventory at the lower of cost or market applied to total inventory Model E 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 Inventory Cost Market Value per Unit Cost Market Lower of Cost or Market Quantity per Unit (Net Realizable Value) Product Model A Model B Model C Model D Model E Total