Lower-of-Cost-or-Market For the weighted average method, round calculations to two decimal places. If required, round your final answers to the nearest cent, 1. Calculate the total amount to be assigned to the ending inventory under each of the following periodic inventory methods 2. Assume that the market price per unit (cost to replace) of Bouie's inventory on December 31, 20--, was $39. Calculate the total amount to be assigned to the ending inventory on December 31 under each of the following methods. 3. What journal entry would be made under lower-of-cost-of-market for parts 2(a) FIFO and 2(b) Weighted average? If no entry is required, type "No entry required for the account name and leave the amount boxes blank or enter "O". Bouie Company's beginning inventory and purchases during the fiscal year ended December 31, 20, were as follows: Units Unit Price Total Cost Jan. 1 20 326 $520 Mar. 5 22 34 748 Beginning inventory 1st purchase 2nd purchase 3rd purchase Sept. 9 24 35 840 Dec. 8 22 40 880 88 $2,988 There are 20 units of inventory on hand on December 31. For the weighted average method, round calculations to two decimal places. If required, round your final answers to the nearestent 1. Calculate the total amount to be assigned to the ending inventory under each of the following periodic inventory methods: a. FIFO b. Weighted average 2. Assume that the market price per unit (cost to replace) of Boule's inventory on December 31, 20, was $39. Calculate the total amount to be assigned to the ending Inventory on December 31 under each of the following methods: 2. FIFO lower-of-cost-or-market 9. Weighted average lower-of-cost-or-market Journal Entries 3. What journal entry would be made under lower-of-cost-or-market for parts 2(a) FIFO and 2(b) Weighted average? If no entry is required, type "No entry required for the account name and leave the amount boxes blank or enter"0" a. b