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 Product Inventory Quantity Market Value per Unit (Net Realizable Value) Unit Class 1: Model A 38 $222 $221 Model B 27 233 225 Model C 26 206 227 Class 2: Model D 21 227 228 Model E 25 53 35 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 Cost per Unit Quantity per Unit (Net Realizable Value) Cost Market Lower of Cost or Market Product Model A 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) Inventory Quantity Cost per Unit Cost Market Lower of Cost or Market Product Class 1: Model A Model B 89 Model Subtotal Class 2: Model D 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 Cost Market Quantity per Unit (Net Realizable Value) Lower of Cost or Market Product Model A Model B Model C Model D Model E Total