Exercise 5.1 What should each purchase be valued as: A. Cost, B. Market. C.Lower of cost or market, D.Net realizable value or lower of cost or market. Choose one of the four options for each purchase. 1. A corn crop raised on the farm and intended to be sold should be valued at 2. Purchased feed intended to be fed to poultry on the farm should be valued at 3. Purchased fuel reported as inventory should be valued at 4. Insurance paid for in advance should be valued at_