Martinez Co. follows the practice of valuing its inventory at the lower-of-cost-or-market. The following information is available from the company's inventory records as of December 31, 2017 Estimated Completion &Normal UnitReplacement Cost Cost/Unit Price/Unit Item Quantity Cost/Unit $1.83 1.10 1.40 0.98 0.85 Margin/Unit 9.15 1,500 10.00 ,7006.83 4.64 7.81 $10.25 12.8 6.59 5.12 7.69 11.47 8.78 7.69 8.17 $2.20 1.46 0.73 1.83 1.22 1,700 2,100 Greg Forda is an accountig dek in the account department of Martinez Co.. and he canot uror tand why the mriet vai, kees changing tom. rebiehet ted net realizable value to something that he cannot even figure out. Greg is very confused, and he is the one who records inventory purchases and calculates ending inventory. You are the manager of the department and an accountant Your answer is partially correct. Try again. Calculate the lower-of-cost-or-market using the individual-item approach. Lower-of-Cost-or-Market (Per unit basis) Item A 9.15 Item B Item C Item D Item E Click if you would like to Show Work for this question: 9.64 6.65 4.64 7.81 Open Show Work (b) Show the journal entry he will need to make in order to write down the ending inventory from cost to market. (Credit account tities are automatically Indented when amount is entered. Do not lndent manually, i no entry is required, select "Noe entry" for the account titles and anter a hor the amounts) Account Tties and Explanation Cost of Goods Sold Loss Due to Market Decine of Inventory Allowance to Reduce Inventory to Market Click if you would like to Show Work for this questions Q Show Wac