Using the following data related to automobile parts inventory, determine the value of the inventory at the lower of cost and NRV. Complete the calculation on an individual basis for model numbers 524, 526, and 455 and for the whole of the 555 series.

a. At what amount should the inventory be valued?
b. What possible reasons can explain the changes in the price? What are selling costs?
c. Will the company sell the inventory for its value as calculated in (a) above?

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Inventory Cost per Price per Direct Selling Model Number Quantity Unit Unit Costs 524 526 455 555-а 555-b 555 C $49.12 13.43 18.55 20.D0 15.00 30.DO $99.99 $300 42 79 53 16 12 10 15.99 10.99 29.99 19.99 49.99