? |?https:/ /main.un n Assignment Exercise 143 At 12/31/17, the end of Jenner Company's first year of business, inventory was $6,100 and $5, 100 at cost and at market, respen Following is data relative to the 12/31/18 inventory of Jenner: Original Cost R lacement Item Per Unit $.65 .70 .75 90 .45 40 .75 .65 85 Selling price is $1.00/unit for all items. Disposal costs amount to 10% of selling price and a "normal" profit is 30% of selling price. Prepare the entry at 12/31/17 necessary to implement the lower-of-cost-or-market procedure assuming Jenrier uses a contra acco are automatically indented when the amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit 2/31/17 Ins All Rights Reserved. A Division of re to search DOLL