Chapter 5 Problems Saved 6 A physical inventory of Liverpool Company taken at December 31 reveals the following. Per Unit 3.57 points Item Units Cost Market Car audio equipment Speakers Stereos 347 $102 $110 262 123 113 Skipped Amplifiers 328 98. 107 Subwoofers 206 64 54 Security equipment Alarms 482 162 152 eBook Locks 293 105 95 Cameras 214 324 334 Print Binocular equipment Tripods 187 86 96 References Stabilizers 172 107 117 Required: 1. Calculate the lower of cost or market for the inventory applied separately to each item. 2. If the market amount is less than the recorded cost of the inventory, then record the LCM adjustment to the Merchandise Inve account. Complete this question by entering your answers in the tabs below. Required 1 Required 21 Calculate the lower of cost or market for the inventory applied separately to each item. Per Unit Total Item Units Cost Market Cost Market ainment LCM applied to: Individual Items Next >