A physical inventory of Liverpool Company taken at December 31 reveals the following: Units Per Unit Cost Market 347 262 328 206 $ 182 123 98 64 $ 110 113 187 54 Item Car audio equipment Speakers Stereos Amplifiers Subwoofers Security equipment Alarns Locks Caneras Binocular equipment Tripods Stabilizers 482 293 214 162 105 324 152 95 334 182 172 86 107 96 117 Required: 1. Compute the lower of cost or market for the inventory applied separately to each item, 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 Item Total Units Cost Market Cost LCM applied to: Individual Items Market $ 102 $ 110 347 262 123 Car audio equipment Speakers Stereos Amplifiers Subwoofers Security equipment Alarms 113 107 328 98 206 64 54 482 162 152 Locks 293 105 95 214 324 334 Cameras Binocular equipment Tripods Stabilizers 187 86 96 172 107 117 Total by entering your answers in the tabs below. Required 1 Required 2 If the market amount is less than the recorded cost of the inventory, then record the LCM adjustme account. View transaction list Journal entry worksheet