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.)