1. The following are the inventory of ABC motor sports, retailer.

Inventor units per unit per unit

Item on hand cost market

Cycles:

Roadster .............................50...............Br. 15,000.......Br. 14,000

Sprint.................................20.....................9,000........... 9,500

Off Road:

Trax-4.................................10.................. 10,000...........11,200

Blaz'm................................ 6..................... 16, 000........14,500

Based on the above information calculate the cost of ending inventory by using Lower of cost or Market (LCM) under the following ways.

1. LCM applied toSeparately to each individual item
2. LCM applied toMajor categories of items
3. LCM applied to the whole of inventory