Please help by showing how to get each number. Will rate!

P9-5 (L02) WRITING (Lower-of-Cost-or-Market) Fiedler Co. follows the practice of valuing its inventory at the lower-of- cost-or-market. The following information is available from the company's inventory records as of December 31, 2017 Unit Replacement & Disposal Profit Item Quantity Cost o Price r/t Cost/ Margin/Unit Unit $10.50 9.40 7.20 $1.80 1.20 0.60 1.50 1.00 $8.40 7.90 1,100 800 1,000 1,000 1,400 $1.50 0.90 1.15 0.80 0.70 7.50 3.80 6.40 4.20 Instructions Greg Forda is an accounting clerk in the accounting department of Fiedler Co., and he cannot understand why the market value keeps changing from replacement cost to net realizable value to something that he cannot even figure out. Greg is very confused, and he is the one who records inventory purchases and calculates ending inventory. You are the manager of the department and an accountant Calculate thel (a) (b) (c) tusing the individual-item approach Show the journal entry he will need to make in order to write down the ending inventory from cost to market. Write a memo to Greg explaining what designated market value is as well as how it is computed. Use your calculations to aid in your explanation