Brooks Company carries three inventory items. The following information pertains to the ending inventory. Required a. Determine the ending inventory that Brooks will report on the balance sheet, assuming that it applies the lower-of-cost-or-marke rule to individual inventory ltems. b. Prepare the necessary journal entry, assuming the decline in value was immaterial. Complete this question by entering your answers in the tabs below. Determine the ending inventory that Brooks will report on the balance sheet, assuming that it applies the lower-of-cost-or market rule to individual inventory items