At the end of the year, Upton Computer Repair had the following items in inventory:

Required

a. Determine the amount of ending inventory using the lower-of-cost-or-market rule applied to each individual inventory item.

b. Provide the general journal entry necessary to write down the inventory based on Requirement \(a\). Assume that Upton Computer Repair uses the perpetual inventory system.

c. Determine the amount of ending inventory, assuming that the lower-of-cost-or-market rule is applied to the inventory in aggregate.

d. Provide the general journal entry necessary to write down the inventory based on Requirement \(c\) Assume that Upton Computer Repair uses the perpetual inventory system.

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Unit Unit Item Quantity Cost D1 D2 D3 D4 684 60 $20 Market Value $26 30 50 48 44 35 42 40 60 45