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 Product Market Value per Unit (Net Realizable Value) Class 1: Model A Model Model Class 2: Model D 800 400 Model E 140 145 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 per Unit Market Value per Unit Net Realizable Value) Cost Inventory Product Quantity Market Lower of Cost or Market Model A Model B Model Model Model 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 (Not Realizable Value) per Unit Inventory Quantity Cost Market Lower of Cost or Market Product Class 1 Model A Model B Model B Model 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 Inventory Quantity Cost per Unit Market Value per Unit Net Realizable Value) Cost Market Lower of Cost or Market Product Model A Model Model Subtotal Class 2 Model D 000000 Model E Subota 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 Inventory Coster Unit Market Value per Unit (Net Realizable Value) Cost Market Lower of Cost or Market Product Quantity Model A Model B Model Model Model E