Brooks Company carries three inventory items. The following information pertains to the ending inventory.

Item Quantity Unit Cost Unit Market Value

A $185$ $ $12$ $ $11$

F $2701211$

K $17969$

Required

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.

Prepare the necessary journal entry, assuming the decline in value was immaterial.