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 42 $149 $161 Model B 12 227 243 Model C 17 111 96 Class 2: Model D 42 268 253 Model E 45 138 119 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 (Net Realizable Value) per Unit Cost Market Inventory Quantity 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 Cost per Unit Market Value per Unit (Net Realizable Value) Cost Inventory Quantity Market Lower of Cost or Market Product Class 1: Model A Model B Model C 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 per Unit Cost Market Lower of Cost or Market Inventory Quantity Cost per Unit (Net Realizable Value) Product Model A $ Model B Model C Model D Model E Total