Brooks Company carries three inventory items. The following information pertains to the ending inventory Unit Market Value $55 75 40 Item Quantity Unit Cost 120 170 110 $60 80 30 Required a. 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. b. Calculate the adjustment required under both methods, assuming the decline in value is immaterial