Carson's Camera Store has a number of video recording cameras in stock. All units are priced to provide a normal profit margin of \($150\). Some of these units are quite old. Carson's has concluded that some "lower-of-cost-or-market" adjustments may be needed, and has gathered the following unit pricing data:

Beta CamCorder, \($900\) cost, \($950\) replacement cost, \($300\) selling price 

VHS CamCorder, \($800\) cost, \($250\) replacement cost, \($500\) selling price 

DVD CamCorder, \($400\) cost, \($375\) replacement cost, \($400\) selling price 

Blu-Ray CamCorder, \($600\) cost, \($750\) replacement cost, \($800\) selling price

(a) What unit value should be attached to each type of camera, assuming item-by-item application of the lower-of-cost-or-market rule?

(b) Assuming an item-by-item application of the lower-of-cost-or-market rule, what journal entry is needed to reduce the Beta CamCorder? 11 such units remain in stock.

(c) Asageneral rule, is the item-by-item approach required? Is the item-by-item approach the most "conservative?"

(d) If an item of inventory is written down, but subsequently recovers in value during a subsequent year, can it be written back up?