Brandon gathered the following information for inventory at December 31, 2020

Inventory item #XP101; quantity 100; unit cost $50; market (replacement cost) $49

Inventory item #CD99; quantity 60; unit cost $50; market (replacement cost) $55

Inventory item #MO45; quantity 40; unit cost $60;market (replacement cost) $73

Inventory item #LS86; quantity 10; unit cost $40; market (replacement cost) $43

Inventory item #MS82; quantity 70; unit cost $100; market )replacement cost) $90

A. calculate the value of inventory using the lower of cost or market

B. prepare the journal entry to write down the inventory