Check my work Serial Problem Business Solutions LO P2, A3 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. ped Per Unit Inventory Items Office productivity Desktop publishing Accounting Units Cost Market $77 103 79 106 96 Required 1. & 2. Compute the lower of cost or market for ending inventory assuming Rey applies the lower of cost or market rule to inventory as a whole and and 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, 2018, for Business Solutions follow. January 1 beginning inventory Cost of goods sold March 31 ending inventory 44,548 2,408 Compute inventory turnover and days' sales in inventory for the three months ended March 31, 2018. Part B Part A 1. & 2. Compute the lower of cost or market for ending Inventory assuming Rey apples the lower of cost or market rule to Inventory as a whole and lower of cost or market rule to each product in Inventory. Must Rey adjust the reported inventory value? BUSINESS SOLUTIONS Per Unit LCM Applied Units nventory Items Office productivity Cost Market Total Cost Total MarketTo Items 9 Desktop publishing 8 9 77 S 103 79 106 96 Accounting Totals o S Lower of cost or market rule to inventory as a whole Rey must adjust the reported inventory value Lower of cost or market rule to each product in inventory Rey must adjust the reported inventory value Part B> Part A Saved Help S Complete this questions by entering your answers in the below tabs. Part A Part B Compute inventory turnover and days' sales in inventory for the three months ended March 31, 2018. Inventory Turnover Choose Numerator: Choose Denominator: Inventory Turnover Inventory Turnover Days' Sales in Inventory Ratio Choose Denominator Choose Numcrator: o days Part A 2 of 6Next> sPrey