Question 4 (of 6 value: 0.83 points M7-9 Reporting Inventory under Lower of Cost or Market LO 7-4] The Jewel Fool had the following inventory items on hand at the end of the year Market Value Necklaces Bracelets Quantity Cost per Item per item $74 64 20 70 $79 Determine the lower of cost or market per unit and the total amount that should be reported on the balance sheet for each item of inventory Lower of Cost or Total Amount Market per UnitReported Necklaces Bracelets Total References