Han Sales and Services has the following data for the items in its inventory at the end of the accounting period: Historical Cost per Market Value per Item Number of Units Unit Unit Window air 15 $194 $110 conditioner 34 Dishwasher 240 380 Refrigerator 27 392 605 Microwave 19 215 180 Washer (clothing) 36 195 290 Dryer (clothing) 21 168 245 1. Compute the carrying value of Han's ending inventory using the lower of cost or market rule applied on an item-by-item basis. 34362 Show All Feedback Hide 2. Prepare the journal entry required to value the inventory at lower of cost or market. Cost of Goods Sold 15548 17473 Inventory Reduce inventory to market value