Lower of Cost or Market Yang Manufacturing sells a limited line of specially made products, using television advertising campaigns in large cities. At year end, Yang has the following data for its inventory: Required: 1. Compute the carrying value of the ending inventory using the lower of cost or net realizable value rule applied on an item-by-item basis. $ 2. Prepare the journal entry required to value the inventory at lower of cost or net realizable value. If an amount box does not require an entry, leave it blank