KLM Company is preparing the annual financial statements dated December 31, 2020. Quantity Unit Cost Market Item on Hand When Acquired Value at year end A 150 $30 $21 B 200 55 52 C 120 70 53 D 140 50 65 a) Compute the valuation for the December 31, 2020, inventory using the lower-of-cost-or-market value basis and make necessary adjusting journal entries. b) Sold 25 units of A for $28 in cash and 10 units of D for $45 each in cash and 5 unites of C was written-off. Make necessary journal entries