Item Quantity Unit Cost A 120 $ 60 F K 170 110 80. 30 Market Value $ 55 75 40 Required a. Determine the ending inventory that Brooks will report on the balance sheet, assuming that it applies the lower-c rule to individual inventory items. b. Prepare the necessary journal entry, assuming the decline in value was immaterial. Complete this question by entering your answers in the tabs below. Required A Required B Prepare the necessary journal entry, assuming the decline in value was immaterial. (If no entry is required for a transacti "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 Record entry for cost of goods sold. Note: Enter debits before credits. Event General Journal Debit Credit