Brooks Company carries three inventory items. The following information pertains to the ending inventory: Unit Cost $11 18 Unit Market Value $10 17 Item Quantity 220 250 174 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.)