Maya Companys ending inventory includes the following items:

1. a) Compute the valuation for the December 31, 2014, inventory using the lower-of-cost-or-market value basis and make necessary adjusting journal entries.

2. b) Sold 5 units of bats for $70 in cash and 10 units of shoes for $85 each in cash. Make necessary journal entries.

Per Unit Units Cost Market Product Helmets $45 12 73 $49 67 86 31 Shoes Uniform 37 31