This data is for selected inventory items at Deluxe Supply Company: Net Realizable Quantity Unit Cost Value Printer Cartridges Item 119 58 $ 24.00 $ 24.50 Item 120 68 22.25 20.50 Item 121 98 27.00 25.50 Fax Machines Item 210 19 90.00 93.00 Item 211 14 196.00 190.00 Item 212 13 229.00 214.00 Required: 1. & 2. Determine the total amount to be reported as the inventory valuation at cost or net realizable value, whichever is lower, under lower of cost or net realizable value for each item separately and lower of total cost or total realizable value. 3. Determine the total amount to be reported as the inventory valuation at cost or net realizable value, whichever is lower, under lower of total cost or total net realizable value by group. Analyze: Which valuation method will yield the highest net income? Complete this question by entering your answers in the tabs below. Req 1 and 2 Reg 3 Analyze Determine the total amount to be reported as the inventory valuation at cost or net realizable value, whichever is lower, under le realizable value for each item separately and lower of total cost or total realizable value. (Round your answers to 2 decimal place Unit Cost Lower of Cost or Not Realizable Value Total Net Realizablo Value Not Realizable Value Quantity Total Cost Description Analyze: Which valuation method will yield the highest net income? Complete this question by entering your answers in the tabs below. Reg 1 and 2 Req3 Analyze Determine the total amount to be reported as the inventory valuation at cost or net realizable value, whichever is lower, under lc realizable value for each item separately and lower of total cost or total realizable value. (Round your answers to 2 decimal place Description Quantity Unit Cost Net Realizable Value Total Cost Total Net Realizable Value Lower of Cost or Net Realizable Value Printer Cartridges Item 119 Item 120 Item 121 Total cartridges Fax Machines Item 210 Item 211 Item 212 Total Fax Machines Total inventory Lower of cost or net realizable value by individual items Lower of total cost or total net realizable value * RCA Req3 > Required: 1. & 2. Determine the total amount to be reported as the inventory valuation at cost or net realizable value, whichever is lower, under lower of cost or net realizable value for each item separately and lower of total cost or total realizable value. 3. Determine the total amount to be reported as the inventory valuation at cost or net realizable value, whichever is lower, under lower de total cost or total net realizable value by group. Analyze: Which valuation method will yield the highest net income? Complete this question by entering your answers in the tabs below. es Req 1 and 2 Reg 3 Analyze Determine the total amount to be reported as the inventory valuation at cost or net realizable value, whichever is lower, under lower of total cost or total net realizable value by group. (Round your answers to 2 decimal places.) Lower of total cost or total Not Realizable Value by groups Printer Cartridges Fax Machines Total inventory by groups