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Lower of Cost or Market Assume a company currently has 15 units in inventory at a cost of $1,200 per unit (total inventory of $18,000 1. Assume that the net realizable value of the inventory is $1,100 per unit (total value of $16,500). What journal entry, if any, is required? 2. Instead, assume that the net realizable value of the inventory is $1,500 per unit (total value of $22,500). What journal entry, if any, is required