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. Inventory Items Office productivity Desktop publishing Accounting Units 3 2 3 Per Unit Cost Market $ 76 $ 74 103 100 90 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 B Selected accounts and balances for the three months ended March 31, 2020, for Business Solutions follow. Beginning inventory, January 1 $ 0 Cost of goods sold 14,052 Ending inventory, March 31 704 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? LCM Applied To Items Units BUSINESS SOLUTIONS Per Unit Cost Market Total Cost $ 76 $ 74 103 100 Total Market Inventory Items Office productivity Desktop publishing Accounting Totals 3 2 3 90 96 Lower of cost or market rule to each product in inventory Rey must adjust the reported inventory value Part A Part B > Part B Selected accounts and balances for the three months ended March 31, 2020, for Business Solutions follow. Beginning inventory, January 1 $ 0 Cost of goods sold 14,052 Ending inventory, March 31 704 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 inventory turnover and days' sales in inventory for the three months ended March 31, 2020. *** HORRRRRRRRR Choose Numerator: Inventory Turnover 1 Choose Denominator: / Inventory Turnover Inventory Turnover = 1 Choose Numerator: Days' Sales in Inventory 1 Choose Denominator: 1 = Ratio 1 days Part A Part B