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 10 Model B Model C 222 $211 $228 20 171 190 12 104 106 Class 2: Model D 13 241 251 Model E 21 138 122 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 Cost Market Lower of Cost or Market Quantity per Unit (Net Realizable Value) Product Model A Model B Model C Model D Model D Model E Total 888 888 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) 888 888 Cost Market Lower of Cost or Market 0000 Q c. Determine the value of the inventory at the lower of cost or market applied to total inventory... Model A Model B Model C Subtotal Class 2: Model D Model E Total Subtotal 33 0000 1000 c. Determine the value of the inventory at the lower of cost or market applied to total inventory. Product Model A Model B Model C Model D Model E Total Inventory Cost Inventory at the Lower of Cost or Market Market Value per Unit Quantity per Unit (Net Realizable Value) Cost Market Lower of Cost or Market