Marin, Inc. values its inventory at the lower-of-LIFO-cost-or-market. The following information is available from the company's inventory records as of December 31, 2020. Estimated Unit Item Quantity Cost Replacement Cost/Unit Selling Price/Unit Completion & Disposal Cost/Unit Normal Profit Margin/Unit X490 12,648 $15.50 $14.82 $17.36 $3.72 $4.22 X512 6,138 8.68 9.30 11.04 0.31 2.23 X682 22,320 23.56 23.06 39.12 4.03 11.16 Z195 15,500 17.67 17.36 24.55 1.74 7.13 Z846 10,664 14.88 15.81 17.30 2.60 1.36 Calculate the lower-of-cost-or-market using the individual-item approach. (Round answers to 2 decimal places, e.g. 52.75.) Lower-of-Cost-or-Market (Per unit basis) X490 $ X512 $ X682 $ X195 $ X846 $ eTextbook and Media eTextbook and Media List of Accounts Show the journal entries Marin, Inc. will need to make in order to write down the ending inventory from cost to market. Assume this is Marin's first year of operations. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to O decimal places, e.g. 5,275.) Account Titles and Explanation Cost of Goods sold Method: Loss method: eTextbook and Media List of Accounts Debit Credit