4 - Valuation of Inventory Benjaha Company is preparing the annual financial statements dated December 31, 2015. Information about inventory stocked for regular sale follows: Net Realizable Value Item Quantity on Hand A 25 B 100 C 20 D 80 Instructions Unit Cost When Acquired $25 55 60 50 at year end $22 55 88 46. a. Calculate the correct value for the December 31, 2015 ending inventory using the lower of cost and net realizable value on individual inventory items. Inventory Cost NRV LCNRV Item A B C D Totals b. Assume Benjaha uses a perpetual inventory system. Prepare the journal entry to record any inventory write down required