Below is a statement of inventory for a candle shop, given on August 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 Product Quantity Per Unit Red Unscented Candles Total for product Por Unit Total for product 12 5:40 6.30 Blue Sand Candes 29 9.50 0 Purple Unscented Candles 18 8.10 7.75 Green Unscented Candles 17 975 Green Scented Candles 12 725 9.36 7.56 LCNRV applied to Group Totals b) Prepare any required adjusting entry assuming LCNRV is applied to each ilom Dates must be entered in the format ddim (15/Jan) Leave the entry blank if no adjusting entry is required Date General Joumal Account/Explanabon Page GUB F Debt Crodt c) Prepare any required adjusting entry assuming LCNRV is applied to the whole group. Dates must be entered in the format disimmm (150an). Leave the entry blank if no adjusting entry is required Date General Joumal AccoursExplanation Page G38 F Debt Chit