The information shown below relating to the ending inventory was taken at lower of cost or NRV from the records of Electronics Corp.: Inventory classification Der Unit Quantity cost NRV $104 14 19 17 87 $ 87 75 131 116 Keyboards Stock A Stock B Stock C Hard drives Stock x Stock CD burnera Stock D Stock E 27 209 172 194 195 76 203 93 113 78 133 Required: 1-a. Determine the valuation of the above inventory at cost by individual items. Cost Keyboards Stock A Stock B Stock C Hard drives Stock X Stock Y CD Burners Stock D Stock E Total cost 1-b. Determine the valuation of the above inventory at cost assuming application of lower-of-cost-or-NRV by classifications. Lower of cost or NRV applied by Items Classification Keyboards Stock A Stock B Stock C Hard drives Stock X Stock Y CD Burners Stock D Stock E Lower of cost or NRV 2. Prepare the entry to record the writedown, if any, to reduce ending inventory to lower of cost or NRV. Assume periodic inventory and the allowance method. (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 the allowance to reduce Inventory to LC/NRV by Individual items. Note: Enter debits before credits General Journal Transaction Debit Credit (a) 2. Prepare the entry to record the writedown, if any, to reduce ending inventory to lower of cost or NRV. Assume periodic inventory and the allowance method. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction lit Journal entry worksheet