Item P1 Quantity Unit Cost $90 Unit Market Value $ 92 P2 P3 77 89 136 124 P4 39 Required a. Determine the amount of ending inventory using the lower-of-cost-or-market rule applied to each individual inventory item Ending Inventory b. Provide the general journal entry necessary to write down the inventory based on Requirement a. Assume that Randy's Parts Co. uses the perpetual inventory system (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list b. Provide the general journal entry necessary to write down the inventory based on Requirement a. Assume that Randy's Parts Co. uses the perpetual inventory system. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record entry for inventory loss. Note: Enter debits before credits - General Journ Debit Event Credle c. Determine the amount of ending inventory, assuming that the lower-of-cost-or-market rule is applied to the total inventory in aggregate Ending inventory d. Provide the general journal entry necessary to write down the inventory based on Requirement Assume that Randy's Parts Co. uses the perpetual inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record entry for Inventory loss. Note: Enter debts before credits General Journal Debit Event Credit