Brooks Company carries three Inventory items. The following information pertains to the ending inventory Unit Unit Item Quantity Cost Market Value A 205 $9 $8 F 250 13 K 175 4 12 7 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. Ending inventory b. Prepare the necessary journal entry, assuming the decline in value was immaterial. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 Record entry for cost of goods sold. > . Prepare the necessary journal entry, assuming the decline in value was immaterial. (If no entry is required for a transaction/event, elect "No journal entry required" in the first account field.) View transaction list Journal entry worksheet