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 Inventory Classification Quantity Cost NRV Keyboards Stock A 18 $ 96 $ 75 Stock B 23 82 66 Stock C 21 106 125 Hard drives Stock X 31 195 176 Stock Y 52 187 214 CD burners Stock D 84 90 71 Stock E 212 122 146 Required: 1-a. Determine the valuation of the above inventory at cost by individual items. 1-b. Determine the valuation of the above inventory at cost assuming application of lower-of-cost-or-NRV by classifications. 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.) 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 Inventory Classification Quantity Cost NRV Keyboards Stock A 18 $ 96 $ 75 Stock B 23 82 66 Stock C 21 106 125 Hard drives Stock X 31 195 176 Stock Y 52 187 214 CD burners Stock D 84 90 71 Stock E 212 122 146 Required: 1-a. Determine the valuation of the above inventory at cost by individual items. 1-b. Determine the valuation of the above inventory at cost assuming application of lower-of-cost-or-NRV by classifications. 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.)