The information shown below relating to the ending inventory was taken at lower of cost or NRV from the records of Electronics Corp.: Per Unit Quantity Cost NRV 19 Inventory Classification Keyboards Stock A Stock B Stock C Hard drives $107 82 $ 85 65 24 22 115 135 Stock X 32 207 187 Stock Y 54 171 199 CD burners Stock D 86 88 125 68 150 Stock E 213 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 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 View transaction list Journal entry worksheet Record the allowance to reduce inventory to LC/NRV by individual items. Note: Enter debits before credits. Transaction General Journal Debit Credit (a) Record entry Clear entry View general journal Journal entry worksheet 1 2 Record the allowance to reduce inventory to LC/NRV by class of inventory. Note: Enter debits before credits. Transaction General Journal Debit Credit (b) Record entry Clear entry View general journal