First Question Shaded cells have feedback Meredith's Appliance Store has the following data for the items in its inventory at the end of the accounting period 1. Compute the camying value of Meredith's ending inventory using the lower of cost or market ruie applied on an item-by-item basis. Carrying Value Number of Units Historical Cost per Unit $175 230 Selling Price per Unit Disposal Costs Window air conditioner 25 $145 550 20 20 Refrigerator 450 180 265 17 Washer (clothing) 180 50 Feedback Dryer (clothing) 19 275 60 Check My Work Compare actual cost of inventory to its market value. The lower amount is the value of inventory. If market value is lower, the inventory account is adjusted. 1. Compure the canying value ot Mereaith's ending nventory using the lower of cost or manket rule applied on an iem-by-item basis. 2. Prepare the fournaf enfry required to value the inventory at lower of cost or market General Journal Shaded cells have feedback. Score: 19/25 IMPACT ON FINANCIAL STATEMENTS GENERAL JOURNAL BALANCE SHEET INCOME STATEMENT DATE ACCOUNT TITLE POST. REF ASSETS UABILTIES REVENUE EXPENSES NET INCONE Cost of Goods Sold 2.550.00 2,550.00 Points: 3.815