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 Stock X 400 $300] 1330 Stock Y 120 250 230 Ink Stock D Stock E 20 92 (40) $70 83 $65 55 02 Toner Stock A 16 Stock B Stock C " 14 100 588 570 80 110 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 1. Calculate the lower of cost or net realizate value applying the rule to each individual nem 2 Calculate the lower of cost or net realizate value applying the rule by inventory category 3 Calculate the lower of cast ar net realizable value applying the rule to total inventory 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 isn't required for the transaction, select "N/A" as the account names and leave the Dr. and Cr, answers blank trero) Ref. Account Name Dr. 0 # 0 2 Please answer all parts of the question Cr G