Inventory Quantity Cost Per Unit Market Value per Unit (Net Realizable Value) Product Class 1 : Model A $132 Model B $150 125 243 119 Model C Class 2: Model D 181 Model E 164 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 Market Value Cost per Unit per Unit (Net Realizable Value) Cost Market Inventory Product Quantity Lower of Cost or Market Model A Model B II Model C Model D Model E Total 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 Cost Inventory Market Value per Unit (Net Realizable Value) Cost Market Lower of Cost or Market Quantity per Unit Product Class 1: Model A Model B Model Subtotal Class 2: Model D Model E Subtotal Total c. Determine the value of the inventory at the lower of cost or market applied to total inventory. c. Determine the value of the inventory at the lower of cost or market applied to total inventory. Inventory at the Lower of Cost or Market Cost per Unit Market Value per Unit (Net Realizable Value) Cost Inventory Product Quantity Model A Market Lower of Cost or Market Model B Model C Model D Model E Total