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. Cost Per Inventory Quantity Market Value per Unit (Net Realizable Value) Product Unit Class 1: Model A 28 $256 $268 Model B 20 228 209 Model C 20 153 171 Class 2: Model D 32 205 209 Model E 26 59 52 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 Cost Market Value per Unit (Net Realizable Value) Cost Market Inventory Quantity Lower of Cost or Market per Unit Product Model A X Model B Model C Model D Model E 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) Cost Cost Market Inventory Quantity Lower of Cost or Market per Unit Product Class 1: Model A Model B 899 Model C Subtotal Class 2: 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 Cost per Unit per Unit (Net Realizable Value) Cost Market Lower of Cost or Market Inventory Quantity Product Model A Model B 8 g Model C Model D Model E Total