Question: please show all work and i will upvote! Suppose we have a company, Emie's, that prepared the following analysis of their year end inventory on

please show all work and i will upvote!

Suppose we have a company, Emie's, that prepared the following analysis of their year end inventory on 12/31: Quantity Product 1 Product 2 Product 3 17 140 38 Historical Cost/unit Replacement Cost/unit 430 499 325 299 75 69 a) determine the total lower of cost or market value for product 1,2, and 3 in their inventory b) create the journal entry required at year end to value the inventory at LCM

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