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 Units Per Unit

Cost Market

Office productivity $3$ $ $76$ $ $74$

Desktop publishing $2103100$

Accounting $39096$

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 $31,2022,$ for Business Solutions follow.

Beginning inventory, January $1$ $ $0$

Cost of goods sold $14,052$

Ending inventory, March $31704$

Compute inventory turnover and days sales in inventory for the three months ended March $31,2022.$