At 12/31/20, the end of Blossom Company's first year of business, inventory was $ 6,000 and $4,500 at cost and at market, respectively. Following is data relative to the 12/31/21 inventory of Jenner: Original Cost Per Unit Item Replacement Cost $0.30 0.35 A $0.60 B 0.40 0.60 0.65 0 0 D 0.60 0.50 E 0.70 0.65 Selling price is $ 1.00/unit for all items. Disposal costs amount to 10% of selling price and a "normal" profit is 30% of selling price. There are 1.200 units of each item in the 12/31/21 inventory USDWUSUS UT URUT SEMUT US OUR SCHOS There are 1,200 units of each item in the 12/31/21 inventory. Prepare the entry at 12/31/20 necessary to implement the lower-of-cost-or-market procedure assuming Blossom uses a contra account for its balance sheet. (Credit account titles are automatically indented when the amount is entered. Do not ndent manually) Date Account Titles and Explanation Debit Credit 12/31/20 Complete the last three columns in the 12/31/21 schedule below based upon the lower-of-cost-or-market rules Item Original Cost Per Unit Replacement Cost Net Realizable Value Net Realizable Value Less Normal Profit A $0.60 $0.30 B 0.40 0.35 0.60 0.65 0 D 0.60 0.50 0.70 0.65 $ $ Complete the last three columns in the 12/31/21 schedule below based upon the lower-of-cost-or-market rules. Cost it Replacement Cost Net Realizable Value Net Realizable Value Less Normal Profit Appropriate Inventory Value $0.60 $0.30 0.40 0.35 0.60 0.65 0.60 0.50 0.70 0.65