available regarding the inventory on hand at year end, December 31 erollowing information is Types: Units Unit Cost Unit Net Realizable Value Marilyn 14 $132 $127 Farrah 12 221 234 Jane 10 56 64 J-Lo 8 181 190 Cpt. Kirk 9 146 118 Assuming Sunland values each type of wig separately, determine the lower of cost and net realizable value of the ending Inventory Lower of cost and net realizable value 7808 Sentered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Date Account Titles and Explanation Debit Credit Dec-31 (To record the decline in inventory value.) Now assume Sunland combines all wigs together for the purposes of determining LCNRV. What amount should be reported on Sunland's balance sheet at year end? Value of inventory $ Assume Sunland made the required journal entry at year end based on the LCNRV as determined in part (a). Shortly after year end, as the economy recovered, it was determined that the NRV of this inventory had increased by $494 Prepare the journal entry required, if any, to record this recovery. (Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit Jan-31 (To record the recovery in inventory value.)