Item A B MNO Company is preparing the annual financial statements dated December 31, 2022. Information about inventory stocked for regular sale follows: Quantity on Hand 80 35 40 75 Unit Cost When Acquired 50 20 50 40 Market Value at year end 30 25 80 20 a) Compute the valuation for the December 31, 2022, inventory using the lower-of-cost-or-net realizable value basis and make necessary adjusting journal entries. b) Sold 15 units of A for 20 in cash, 3 units of B for 30 and 10 units of C for 75 each in cash and written-off 5 units of D. Make necessary journal entries. Improvements were made to the leased warehouse on June 01, 2021 at a cost of $ 22,000. The estimated life of the improvement is ten years. Lease contract terminates on December 31, 2025. Make necessary entries as of 31.12.2021 and 31.12.2022.