Problem 17.3A Applying the lower of cost or net realizable value rule by different methods. LO 17-3 This data is for selected Inventory items at Deluxe Supply Company Not Realizable Quantity Unit Cost Value CBOOK 46 20.50 20.00 Printer Cartridges Item 119 Item 120 Item 121 Fax Machines Item 210 25.00 88.00 11.00 227.00 Item 212 Required: 1&2. Determine the total amount to be reported as the inventory valuation at cost or net realizable value, whichever is lower, under lower of cost or net realizable value for each item separately and lower of total cost or total realizable value. 3. Determine the total amount to be reported as the inventory valuation at cost or net realizable value, whichever is lower, under lower of total cost or total nel realizable value by group Analyze: Which valuation method will yield the highest net income? Complete this question by entering your answers in the tabs below.