2. (10 points) A company reported the following data related to its ending inventory: Units Available | Product 849 1842 80 Cost $10 16 14 16 70 60 20 Market $11 14 13 20 847 L 860 a. Calculate the lower-of-cost-or-market on the inventory applied separately to each product. Products #of | Units | Total Cost Per Product | Total Cost Per Market LCM | Write down per item Total b. Prepare the adjusting entry to write down the inventory to the lower of cost or market