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 32 $210 $205 Model B 14 236 254 Model C 43 82 86 Class 2: Model D 31 288 295 Model E 21 42 18 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 per Unit (Net Realizable Product Inventory Quantity Cost per Unit Model A Model B Model C Model D Model E Total Value) Lower of Cost Market 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 per Unit (Net Realizable Inventory Cost Product Quantity per Unit Class 1: Model A Model B Model C Subtotal Class 2: Value) Model D Model E Total Subtotal 338 Cost Market Lower of Cost or Market 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 per Unit (Net Realizable Inventory Cost Product Quantity per Unit Model A Model B Model C Model D Model E Total Value) Lower of Cost or Market Cost Market