Below is a statement of inventory for a candle shop, given on October 31. a) Calculate the lower of cost or net realizable value for the inventory, applied separately to each product, and by inventory group. Cost NRV LCNRV applied to Product Quantity Per Unit Total for Per Unit Total for product product Items Group Green Scented Candles 26 7.05 6.60 Blue Votive Candles 6.60 6.15 Blue Unscented Candles 28 8.55 9.05 Purple Sand Candles 15 7.60 7.75 Purple Unscented Candles 16 8.50 8.20 Totals 10 b) Prepare any required adjusting entry assuming LCNRV is applied to each item. Dates must be entered in the format dd/mmm (15/Jan). Leave the entry blank if no adjusting entry is required. General Journal Page GJS Account/Explanation F Debit Credit Date c) Prepare any required adjusting entry assuming LCNRV is applied to the whole group. Dates must be entered in the format dd/mmm (15/Jan). Leave the entry blank if no adjusting entry is required. General Journal Page GJS Account/Explanation F Debit Credit Date