Lower-of-cost-or-market inventory On the basis of the following data, determine the value of the inventory at the lower of cost or market. Assemble the data in the form illustrated in Exhibit 10. Product Inventory Quantity Cost Per Unit Market Value per Unit (Net Realizable Value) Class 1: Model A 420$120 $105 Model B 700 80 102 Model C 22550 48 Class 2: Model D 600 140 125 Model E 380 160 172 Question Content Area a. Determine the value of the inventory at the lower of cost or market applied to each item in the inventory. Inventory at the Lower of Cost or Market Product Inventory Quantity Cost per UnitMarket Value per Unit (Net Realizable Value) Cost Market Lower of Cost or Market Model AModel A$Model A$Model A$Model A$Model A$Model A Model BModel BModel BModel BModel BModel BModel B Model CModel CModel CModel CModel CModel CModel C Model DModel DModel DModel DModel DModel DModel D Model EModel EModel EModel EModel EModel EModel E Totalblankblankblank$Total$Total$Total Question Content Area b. Determine the value of the inventory at the lower of cost or market applied to each class of inventory. Inventory at the Lower of Cost or Market Product Inventory Quantity Cost per UnitMarket Value per Unit (Net Realizable Value) Cost Market Lower of Cost or Market Class 1:blankblankblankblankblankblank Model AModel A$Model A$Model A$Model A$Model Ablank Model BModel BModel BModel BModel BModel Bblank Model CModel CModel CModel CModel CModel Cblank Subtotalblankblankblank$Subtotal$Subtotal$Subtotal Class 2:blankblankblankblankblankblank Model DModel DModel DModel D$Model D$Model Dblank Model EModel EModel EModel EModel EModel Eblank Subtotalblankblankblank$Subtotal$SubtotalSubtotal Totalblankblankblank$Total$Total$Tot
