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 15 $116 $101 Model B 44 48 59 Model C 41 106 123 Class 2: Model D 19 122 139 Model E 30 47 37 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 Quantity Cost per Unit Market Value per Unit Cost Market Lower of Cost or Market (Net Realizable Value) 101 Product Model A 15 116 Model B 44 48 59 Model C 41 106 123 Model D 19 122 139 Model E 30 47 37 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 Market Value per Unit (Net Realizable Value) Inventory Quantity Cost per Unit Product Class 1: Model A 15 116 101 Model B 44 48 59 Model C 41 106 123 Subtotal Class 2: Model D 19 122 139 Model E 30 47 37 Subtotal Total Cost Market Lower of Cost or Market 0000 0000 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 Inventory Quantity Cost per Unit Cost Market Lower of Cost or Market per Unit (Net Realizable Value) Product Model A 15 116 101 Model B 44 48 59 Model C 41 106 V 123 Model D 19 122 139 Model E 30 47 37 Total