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 37 $155 $152 Model B 24 52 62 Model C 13 276 261 Class 2: Model D Model E 270 255 191 191 a. Determine the value of the inventory at the lower of cost or market applied to each item in the 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 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) 388 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. 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