need part b

Following is data relative to the 12/31/26 inventory of Cullumber Company: The sellire price is 51.00 ,unit for all iteins. Disposal costs amount to 105 of the sellins price and a "nerinal" proht is 20 sof of setinn peice, There are 1,400 units of each item in the 12/31/26 inventory The company agplies LCM using to the rotat of the inventory. Complete the last three columns in the 12/31/26 schedule below based upon the lower-of-cost-or-market rules iflound answen to 2 decimal places, es 5275 . Prepare the entry necessary at 12/31/26 based on the data above. The loss method is used. ICredit account titles are outomiationly indented when the arnount is entered, Do not indent monually, If no entry is required, select "No Entry" for the account tities and enter Ofor the amounts Uist debit entry befove credit entryd