On the basis of the following data, determine the value of the inventory at the lower of cost or market. A Product Class 1: Model A Model B Model C Class 2: Model D Model E Inventory Quantity Product Model A Model B Model C Model D Model E Total 50 47 26 22 23 Inventory Quantity Cost Per Unit $64 184 218 Cost per Unit 89 254 a. Determine the value of the inventory at the lower of cost or market applied to each item in the inventory. Market Value per Unit (Net Realizable Value) $73 168 224 Inventory at the Lower of Cost or Market Market Value per Unit (Net Realizable Value) 81 279 Cost Market Lower of Cost or Market b. Determine the value of the inventory at the lower of cost or market applied to each class of inventory. D Product Class 1: Model A Model B Model C Class 2: Subtotal Model D Model E Total Inventory Cost Quantity per Unit Subtotal Total Inventory Cost Product Quantity per Unit Model A Model B Model C Model D Model E Market value per Unit (Net Realizable Value) Check Med Cost 0000 Inventory at the Lower of Cost or Market Market Value per Unit (Net Realizable Value) c. Determine the value of the inventory at the lower of cost or market applied to total inventory. Market Cost Lower of Cost or Market Market 0 00 Lower of Cost or Market 27