Question 59 1.6 pts Roberts Company has four different categories of inventory. The quantity, cost, and market value for each of the inventory categories are as follows: Cost per Item Quantity 1 220 2 130 3 100 14 25 Market Ind. Item Value Per Total Lower/Cost Unit Total Cost Unit Market or Market $ 4.40 $ 968.00 $ 4.60 $1,012.00 6.20 806.00 6.00 780.00 10.00 1,000.00 9.25 925.00 20.50 512.50 25.00 625.00 $3,286.50 $3,342.00 The company applies the lower-of-cost-or-market rule using the individual item method. How would the implementation of the lower-of-cost-or- market rule impact the elements of the company's financial statements