SP 5 Serial Problem Business Solutions (Algo) LO A3, P2 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 Desktop publishing Accounting Units Cost $ 79 Market $ 81 3 106 101 108 98 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 Cost of goods sold Ending inventory, March 31 50 18,165 1,038 Compute inventory turnover and days' sales in inventory for the three months ended March 31, 2022 Part A Part B 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? BUSINESS SOLUTIONS Per Unit Inventory Items Units Total Cost Total Market LCM Applied Cost Market To Items Office productivity 4 $ 79 $ 81 Desktop publishing 3 106 108 Accounting 4 101 98 Totals $ 0 $ 0 $ Lower of cost or market for inventory applied separately to each product Rey must adjust the reported inventory value Part A Part B > Prev 2 of 2 Next Part A Party Compute inventory turnover and days' sales in inventory for the three months ended March 31, 2022. Choose Numeraton Inventory Turnover Choose Denominator: Inventory Turnover Inventory Turnover Days' Sales in Inventory Ratio Choose Numerator: Choose Denominator: 0 days < Part A Part B