saved Part A 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 per Unit Inventory Items Office productivity 8 $ 83 85 Desktop publishing 7 110 112 Accounting Units cost Market 105 102 Required 1. & 2. Compute the lower of cost or market for ending inventory assuming Rey applies the lower of cost or market rule to inventory as a whole and and 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, 2018, for Business Solutions follow January 1 beginning inventory Cost of goods sold March 31 ending inventory 35,247 2,274 Compute inventory turnover and days sales in inventory for the three months ended March 31. 2018 Complete this questions by entering your answers in the below tabs. Part A Part B Prev1 of 5 Next Complete this questions by entering your answers in the below tabs. Part A Part B 1. & 2. Compute the lower of cost or market for ending inventory assuming Rey applies the lower of cost or market rule to inventory as a whole and lower of cost or market rule to each product in inventory. Must Rey adjust the reported inventory value? BUSINESS SOLUTIONS Per Unit LCM Applied ntory Items Units Cost Market Total Cost Total Market To ltems Office productivity Desklop publishing7 Accounting 83 $ 110 105 85 s 112 102 664 70 816 2,274 S 2,280 S 2,250 664 S 770 840 784 Totals Lower of cost or market rule to inventory as a whole Rey must adjust the reported inventory value No Lower of cost or market rule to each product in inventory Rey must adjust the reported inventory value Part B > Part A Part B Compute inventory turnover and days' sales in inventory for the three months ended March 31, 2018. Inventory Tunover Choose Numerator:Choose Denominator Cost of goods sold Inventory Turnover Inventory Turnover Average inventory 5,247 Days Sales in Inventory Ratio Choose Numerator:Choose Denominator 0 days Part A