Valuing Inventory Using Lower-of-Cost-or-Net Realizable Value Printer Inc, discloses the following ending inventory data. Classification Quantity Cost per Unit NRV per Unit Paper StockX 400 $300 1330 120 250 frik Sock D 40 $70 Stack E 20 353 Toner . Stoces 16 575 Stock Stock C 14 100 385 25 86 a Determine the valuation of inventory at cost and at the lower-of-cost-or-net realizable value assuming application by (a) individual items, (b) classifications, and (c) total inventory. The unit costs of the three categories are significantly different; however, within each category the unit costs are similar. 2.Calculate the lower of cost s 3. Cada the air of coat or i b. Prepare the entry to record the ending inventory for each approach in part a assuming any inventory holding loss is recognized as a separate loss and reduces inventory through an allowance account Note: If a journal entry isnt required for the transaction, select "N/A" as the account names and leave the Dr, and Cr. answers blank (zero) Ref. Account Name 3