12 Exercise 5-11A (Algo) Lower-of-cost-or-market rule LO 5-2 Brooks Company carries three inventory items. The following information pertains to the ending inventory. Unit Market 1 Item points A Quantity 2201 Unit Cost Value $9 $8 F 240 14 13 K 177 6 9 eBook Print Required a. Determine the ending inventory that Brooks will report on the balance sheet, assuming that it applies the lower-of-cost-or-market rule to individual inventory items. b. Prepare the necessary journal entry, assuming the decline in value was immaterial. Complete this question by entering your answers in the tabs below. Required Required B Determine the ending inventory that Brooks will report on the balance sheet, assuming that it applies the lower-of-cost-or- market rule to individual inventory items. Ending inventory