OLY The accountant for Murphy Company prepared the following analysis of its inventory at year end: Item Units Cost per Unit Net Realizable Value RSK-89013 510 $38 $44 LKW-91247 329 49 45 QEC-S7420 462 25 33 Required: 1. Compute the carrying value of the ending Inventory using the lower of cost or net realizable value rule applied on an item-by-item basis 52,491 x Peace Check My Work 1. Compare actual cost of inventory to it arket value. The lower amount is the value of inventory. If market value is cwer, the inventory account is aduated 2. Prepare the journal entry required to value the inventory at lower of cost or net realizable value. If an amount box does not require an entry, leave it blank Cost of Goods Sold 5.440 X Inventory 5.440 X