A physical inventory of Liverpool Company taken at December 31 reveals the following. 2. Per Unit Units cost Market 341 256 322 200 $ 96 117 92 58 $104 106 101 47 ants Item Car audio equipment Speakers Stereos Amplifiers Subwoofers Security equipment Alarms Locks Cameras Binocular equipment Tripods Stabilizers Skipped 476 131 287 208 156 99 316 90 328 181 166 76 103 90 111 Print 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. Per Unit Total Item Units LCM applied to: Individual Items Cost Market Cost Market 341 $ 96 $ 104 256 117 106 Car audio equipment Speakers Stereos Amplifiers Subwoofers Security equipment Alarms 322 92 101 200 58 47 476 156 131 Locks 287 99 90 If the market amount is less than the recorded cost of the inventory, then record the LCM adjustmen ccount. 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. Per Unit Total LCM applied to: Individual Items Item Units Cost Market Cost Market Car audio equipment Speakers 341 $ 96 $ 104 Stereos 256 117 106 Amplifiers 322 92 101 Subwoofers 200 58 47 Security equipment Alarms Locks 476 156 131 287 99 90 Cameras 208 316 328 Binocular equipment Tripods Stabilizers 181 76 90 166 103 111 Total Required 2 Prey the market amount is less than the recorded cost of the inventory, then record the count. View transaction list Journal entry worksheet Record LCM adjustment. Note: Enter debits before credits. Date Dec 31 General JournalIEF Debit Credit Record entry Clear entry View general journal Required 1 R Prev 2 of 7 Next >