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. Inventory Quantity Cost Per Unit Market Value per Unit (Net Realizable Value) () Product Class 1: Model A 41 $201 $189 $ Model B 48 232 215 Model C 12 138 133 Class 2: Model D 26 70 94 Model E E 33 202 195 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 Inventory per Unit Quantity per Unit (Net Realizable Value) Cost Cost Market Lower of Cost or Market Product Model A $ $ Model B Model C Model D D Model E Total b. Determine the value of the Inventory at the lower of cost or market applied to each class of Inventory. 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 Cost per Unit Cost Market Inventory Quantity Lower of Cost or Market per Unit (Net Realizable Value) Product Class 1 : Model A $ $ $ Model B 99 Model C Subtotal $ Class 2: Q100 QUOD Model D 88 Model E Subtotal $ Total $ 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 Cost per Unit Quantity per Unit (Net Realizable Value) Cost Market Lower of Cost or Market Product Model A Model B 89 99 Model C 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 Cost per Unit (Net Realizable Value) per Unit Cost Market Inventory Quantity Product Lower of Cost or Market Model A $ Model B Model C Model D Model E Total