Part A Santana Rey of Business Solutions is evaluating her inventory to determine whether it must be adjusted based on lower of cost or market rules. Business Solutions has three different types of software in its inventory, and the following information is available for each. Per Unit Inventory Items Units Cost Office productivity Desktop publishing Accounting 7 $ 80 Market $ 78 6 107 7 94 104 100 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 B Selected accounts and balances for the three months ended March 31, 2022, for Business Solutions follow. Beginning inventory, January 1 Cost of goods sold Ending inventory, March 31 $ 0 40,920 1,860 Compute inventory turnover and days' sales in inventory for the three months ended March 31, 2022. 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 Inventory Items Units Total Cost Total Market Cost Market LCM Applied To Items Office productivity 7 $ 80 $ 78 | Deskton nuhlishing 107 104 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 Inventory Items Units Total Cost Total Market LCM Applied To Items Cost Market Office productivity 7 $ 80 $ 78 Desktop publishing 6 107 104 Accounting 7 94 100 Totals Lower of cost or market for inventory applied separately to each product Rey must adjust the reported inventory value 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 B Selected accounts and balances for the three months ended March 31, 2022, for Business Solutions follow. Beginning inventory, January 1 Cost of goods sold Ending inventory, March 31 $ 0 40,920 1,860 Compute inventory turnover and days' sales in inventory for the three months ended March 31, 2022. Complete this question by entering your answers in the tabs below. Part A Part B Compute inventory turnover and days' sales in inventory for the three months ended March 31, 2022. Inventory Turnover Choose Numerator: 1 Choose Denominator: 1 Choose Numerator: Days' Sales in Inventory. Choose Denominator: Inventory Turnover = Inventory Turnover = Ratio = days