A physical Inventory of Liverpool Company taken at December 31 reveals the following. Per Unit Item Units Cost Market Car audio equipment Speakers 346 $ 101 $ 109 Stereos 261 122 112 Amplifiers 327 97 106 Subwoofers 205 63 53 Security equipment Alarms 481 161 151 Locks 292 104 94 Cameras 213 323 333 Binocular equipment Tripods 186 85 95 Stabilizers 171 106 116 Required: 1. Compute the lower of cost or market for the Inventory applied separately to each item. 2. If the market amount is less than the recorded cost of the Inventory, then record the LCM adjustment to the Merchandise Inventory account. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the lower of cost or market for the inventory applied separately to each item. Item Per Unit Total Units Cost Market Cost Market Car audio equipment Speakers 346 $ 101 S 109 Stereos 261 122 112 Amplifiers 327 97 106 Subwoofers 205 63 53 Security equipment Alarms 481 161 151 Locks 292 104 94 Cameras 213 323 333 Binocular equipment Tripods 186 85 95 Stabilizers 171 106 116 Total LCM applied to: Individual Items