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eBook Show Me How Exercise 6-56 (Algorithmic) Lower of Cost or Market Meredith's Appliance Store has the following daw items in its inventory at the end of the accounting period: Item Number of Units Historical Cost per Unit Selling Price per Unit Disposal Costs Window air conditioner $110 $50 Dishwasher Refrigerator Microwave Washer (clothing) Dryer (clothing) Required: applied on an item-by-item basis. 1. Compute the carrying value of ending inventory using the lower of cost or market 2. Prepare the journal entry required to value the inventory at lower of cost or market. Inventory (Inventory adjustment to market value) Previous Ne Check My Work 2 more Check My Work uses remaining Email Instructor Save and Exit Submit Assignment for