At the end of the year, Randy's Parts Co. had the following items in inventory: Item P1 P2 P3 P4 Quantity 68 36 90 43 Unit Cost $ 88 68 133 57 Unit Market Value $ 90 78 121 65 . . Required a. Determine the amount of ending inventory using the lower-of-cost-or-market rule applied to each individual inventory item. Ending inventory b. Provide the general Journal entry necessary to write down the inventory based on Requirement a. Assume that Randy's Parts Co. uses the perpetual inventory system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet