ow is a sidielfient of inventory for a candle shop, given on July 31. Calculate the lower of cost or net realizable value for the inventory, applied separately to each product, and by inventory group Cost NRV Product Quantity Per Unit Total for product Per Unit Total for product LCNRV applied to Items Group Blue Scented Candles 30 5.95 5.60 Red Unscented Candles 19 7.95 8.401 Blue Votive Candles 29 10.25 9.45 Red Scented Candles 29 8.60 9.55 Green Sand Candles 12 9.30 10.25 Totals b) Prepare any required adjusting entry assuming LCNRV is applied to each item. Dates must be entered in the format dd/mmm (15/Jan). Leave the entry blank if no adjusting entry is required Date General Journal Account/Explanation F Debit Page GJB Credit c) Prepare any required adjusting entry assuming LCNRV is applied to the whole group. Dates must be entered in the format dd/mmm (15/Jan) Leave the entry blank if no adjusting entry is required. Page GJB Date General Journal Account/Explanation F Debt Credit 4