24. (2 points) LCNRV and LCM a. As of 12-31-18, Zena Company has four different inventory items on hand. Data on the four items follows: Item Quantity on hand Unit cost Expected selling price Estimated disposal costs C3222P3 400 $30 $80 PQ27845 100 $52 SSS $s ZT15577 250 $27 540 50 SF98888 300 $13 S30 $9 Using the lower-of-cost-or-net realizable value approach applied on an individual-item basis, determine if Zena needs to make an entry to write her inventory down. If so, prepare the entry Zena should make. b. As of 12-31-18, Bartle Company has four different inventory items on hand. Data on the four items follows: Tiem Quantity Unit Expected Replacement Normal gross Estimated on hand cost selling price Cast profit %* disposal costs C3222P3 550 $30 540 S25 40 $2 PQ27845 175 SIO $20 SI2 30 $1 ZT15577 250 S17 $30 S20 60 50 SF98888 100 $43 $50 S44 50 88 * the % is a % of the expected selling price Assume Bartle uses a LIFO costing method. Using the lower-of- cost-or-market value approach applied on an individual-item basis, determine if Bartle needs to make an entry to write her inventory down. If so, prepare the entry Bartle should make. 6