i need help with question 2! thank you!

A physical inventory of Liverpeol Company taken at December 31 reveals the following: Required: 1. Compute the lower of cost or market for the inventory applied separately to each item. 2. If the market amount is less than the recorded cost of the inventory, then record the LCM adjustment to the Merchandise tinventory account. Complete this question by entering vour answers in the tabs below. If the market amount is less than the recorded cost of the inventory, then record the LOM adjustment to the Merchancise Imventory occount: Journal entry worksheet Complete this question by entering your answers in the tabs below. If the market amount is less than the recorded cost of the inventory, then record the LCM adjustment to the Merchandise Inventory account. Complete this question by entering your answers in the tabs below. Compute the lower of cost or market for the inventory applied separately to each item