On the basis of the following data: Inventory Quantity Cost per Unit Product Market Value per Unit (Net Realizable Value) $168 Model A 47 $167 Model B 19 73 94 Model C 18 56 34 Model D 13 248 226 Model E 34 70 45 Determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 9. Inventory at the Lower of Cost or Market Product Total Cost Total Market Lower of Total Cost or Total Market B C D m Total Using the lower of cost or market, what should the total inventory value be for the following items: Unit Cost Unit Market Total Cost Price Price Price Total Market Price Lower of Cost or Market Item Quantity A 219 $4 $8 $876 $1,752 B 96 $18 $14 $1,728 $1,344 46 $20 $23 $920 $1,058 Beginning inventory, purchases, and sales for an inventory item are as follows: Sep. 1 Beginning Inventory 25 units $15 5 Sale 16 units 17 Purchase 31 units $18 30 Sale 31 unit Assuming a perpetual inventory system and the first-in, first-out method, determine (a) the cost of the goods sold for the September 30 sale and (b) the inventory on September 30, a. Cost of goods sold b. Inventory, September 30 Beginning inventory, purchases, and sales for Product XCX are as follows: Sep. 1 Beginning Inventory 23 units @ $14 5 Sale 11 units 17 Purchase 28 units $15 30 Sale 14 units Assuming a perpetual inventory system and the last-in, first-out method, determine (a) the cost of the goods sold for the September 30 sale and (b) the inventory on September 30, a) Cost of goods sold b) Inventory, September 30