PR 6-6B Lower-of-cost-or-market inventory Data on the physical inventory of Katus Products Co. as of December 31, 2016, foll 08). 6 873 Market Value per Unit (Net Realizable Value) Inventory 178 132 545 24 C77 F66 21 375 K12 Q58 18 235 140 V97 Y88 744 Quantity and cost data from the last purchases invoice of the year and the next-to-the-last purchases invoice are summarized as follows: Next-to-the-Last Purchases Invoice Quantity Last Purchases Invoice Unit Purchased Cost Quantity Unit Purchased Description A54 174 130 547 180 128 540 F66 H83 K12 Q58 15 15 500 500 75 256 260 V97 Y88 100 750 740 Instructions Determine the inventory at cost and also at the lower of cost or market, using the first-in, first-out method. Record the appropriate unit costs on the inventory sheet, and complete he pricing of the inventory. When there are two different unit costs applicable to an item: Draw a line through the quantity, and insert the quantity and unit cost of the last purchase 2. On the following line, insert the quantity and unit cost of the next-to-the-last purchase. C or M column. The first item on the inventory sheet has been completed as an exampl Inventory Sheet 3. Total the cost and market columns and insert the lower of the two totals in the Lower o December 31, 2016 Market Value per Unit (Net Unit Inventory Cost per Total escription QuantityUnit Realizable Value) Cost Market LCM A54 37 30 $56 $1,800 $1,680 52.206 32.072 $2072 2,206 $2,072 $2,072