On the basis of the following data, determine the value of the inventory at the lower of cost or market applied to (a) each item in the inventory (2 points), (b) each class of inventory (2 point), and (c) total inventory (1 point). Also, explain which method management would likely prefer and why (1 point). Net Inventory Cost per Realizable Product Quantity Unit Value Class 1: Model A 100 $150 $145 Model B 900 100 98 Model C 700 150 175 Class 2: Model D 900 60 60 59 Model E 400 40 45 Hide haring