Lower of Cost or Net Realizable Value

Meredith's Appliance Store has the following data for the items in its inventory at the end of the accounting period:

Required:

Compute the carrying value of Meredith's ending inventory using the lower of cost or net realizable value rule applied on an item$-$by$-$item basis.

$

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.