A physical Inventory of Liverpool Company taken at December 31 reveals the following. Per Unit Cost Market Units 339 254 32e 198 $ 94 115 90 56 $ 102 104 99 45 Item Car audio equipment Speakers Stereos Amplifiers Subwoofers Security equipment Alarms Locks Cameras Binocular equipment Tripods Stabilizers 474 285 286 154 97 314 129 88 326 179 164 74 181 88 1e9 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 LCM applied to: Item Units Cost Market Cost Individual Market Items Car audio equipment Speakers 339 S 94 $ 102 Stereos 254 115 104 Amplifiers 320 99 Subwoofers 45 Security equipment Alarms Looks 285 97 88 Cameras 200 Binocular equipment Tripods 179 74 88 Stabilizers 184 Total 88 198 474 154 129 314 326 101 109 Required: Required 2 > Required 1 Required 2 If the market amount is less than the recorded cost of the inventory, then record the LCM adjustment to the Merchandise Inventory account. View transaction Mat Journal entry worksheet