2.85 points A physical inventory of Liverpool Company taken at December 31 reveals the following Per Unit Cost Market Audio equipment 345 $100 $108 Receivers CD players 121 110 MP3 players 105 Speak 204 51 Video equipment Handheld LCDs 480 180 135 VCRs 291 103 212 320 Camcorders Car audio equipment Satellite radios 185 80 CD/MP3 radios 170 107 115 Required: 1. Calculate the lower of cost or market for the inventory applied separately to each item. Per unit Total LCM appled Unite Cot Market Cost Individual Market Audio equipment 220 121 110 CD players 320 98 105 MP3 players Video equipment 460 160 135 Handheld LCDs 291 103 94 212 320 332 Camcorders Car audio equipment Satellite radios 185 80 94 170 107 115 CD/MP3 radios