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 15 $100 $97 Model B 34 201 193 Model C 32 186 192 Class 2: Model D 38 124 103 Model E 35 235 254 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 Cost per Unit per Unit (Net Realizable Value) Cost Market Inventory Quantity Lower of Cost or Market Product 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 Lower of Cost or Market Inventory Quantity per Unit (Net Realizable Value) Product Class 1: Model A Model B Model c Subtotal O Class 2: Model D $ SD 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 Inventory Quantity Lower of Cost or Market Product Model A $ Model B Model C Model D Model E Total