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Lower-of-Cost-or-Market Inventory Data on the physical inventory of Katus Products Co. as of December 31 follow: Inventory Item Inventory Quantity Market value per Unit (Net Realizable Value) A54 $ 56 C77 178 F66 H83 K12 Q58 235 V97 Y88 744 Quantity and cost data from the last purchases invoice of the year and the next-to-the-last purchases invoice are summarized asf Last Next-to-the-Last Purchases Invoice Purchases Invoice Inventory Unit Quantity Purchased Unit Item Quantity Purchased Cost Cost A54 30 S 50 40 $ 58 Quantity and cost data from the last purchases invoice of the year and the next-to-the-last purchases invoice are summarized as follows: Last Purchases Invoice Next-to-the-Last Purchases Invoice Inventory Unit Quantity Purchased Unit Cost Quantity Purchased Item COSE A54 $60 V97 750 Required: Determine the inventory at cost as well as at the lower of cost or market, using the t o ut method Record the appropriate unit costs on the inventory and complete the pricing of the inventory. When there are two different unit costs applicable to an item 1. Insert the quantity and unit cost of the last purchase. 2. Insert the antity and unt the next-to-theastchase Previous N Required: Determine the inventory at cost as well as at the lower of cost of market, using the first in, first-out method. Record the appropriate unit costs on the inventory sheet and complete the pricing of the inventory. When there are two different unit costs applicable to an item: 1. Insert the quantity and unit cost of the last purchase 2. Insert the quantity and unit cost of the next to the last purchase 3. Total the cost and market columns and insert the lower of the two totals in the LCN column The first item on the inventory Sheet has been completed as an example Inventory Sheet December 31 Inventory Inventory Cost per Market Value per Unit (Net Realizable Value) Quantity Total Cost Total Market

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