Rowan Company has four different categories of inventory. The quantity, cost, and market value for each of the inventory categories are as follows:

QUESTION 17 Rowan Company has four different categories of inventory. The quantity, cost, and market value for each of the inventory categories are as follows: Cost MarketValue Item Quantity Per Unit Per Unit 1 220 $ 4.40 $ 4.60 2 130 $ 6.20 $ 6.00 3 100 $ 10.00 $ 9.25 4 25 $ 20.50 $ 19.00 The company carries inventory at lower-of-costor-market applied to the entire stock of inventory in the aggregate. How would the implementation of the lower-of-cost-ormarket rule impact the elements of the company's nancial statements? 0 A" Increase total assets and stockholders' equity by $94.50. 0 B" Decrease total assets and stockholders' equity by $94.50. 0 0' Decrease total liabilities and stockholders' equity by $94.50. 0 '3' Have no effect on total assets or stockholders' equity