Part A Santana Rey of Business Solutions is evaluating her inventory to determine whether it must be adjusted based on lower of cost of market rules. Business Solutions has three different types of software in its inventory, and the following information is available for each Units Inventory Items Office productivity Desktop publishing Accounting Per Unit Cost Market $ 76 $ 74 108 90 103 96 Required: Compute the lower of cost or market for ending inventory assuming Rey applies the lower of cost or market rule to each product in inventory. Must Rey adjust the reported inventory value? Part 8 Selected accounts and balances for the three months ended March 31, 2020, for Business Solutions follow. Beginning inventory, January 1 Cost of goods sold Ending inventory, March 31 Compute inventory turnover and days' sales in inventory for the three months ended March 31, 2020. Complete this question by entering your answers in the tabs below. Part A Part B Compute the lower of cost or market for ending inventory assuming Rey applies the lower of cost or market rule to each product in inventory. Must Rey adjust the reported inventory value? BUSINESS SOLUTIONS Per Unit Total Cost LCM Applied To Items Total CAS I O Total Market Market Cost Units 100 Inventory Items Office productivity Desktop publishing Accounting Compute the lower of cost or market for ending inventory assuming Rey applies the lower of cost or market rule to each product in inventory. Must Rey adjust the reported inventory value? Units BUSINESS SOLUTIONS Per Unit Cost Market Total Cost $ 76 $ 103 Total Market Inventory Items Office productivity Desktop publishing Accounting Totals LCM Applied To Items 100 0 $ Lower of cost or market rule to each product in inventory Rey must adjust the reported inventory value Part o te e 9 to search SAMSUNG Part A Part B Compute inventory turnover and days' sales in inventory for the three months ended March 31, 2020. Inventory Turnover Choose Denominator: Choose Numerator: Inventory Turnover Inventory Turnover Days' Sales in Inventory Choose Denominator: Choose Numerator: Ratio 1 0 days | 9 to search SAMSUNG