P6-9A Tascon Corporation sells coffee beans, which are sensitive to price fluctuations. The following inventory information is available for this product at December 31, 2018:

Coffee Bean	Units	Unit Cost	Net Realizable Value
Coffea arabica	13,000 bags	$5.60	$5.55
Coffea robusta	5,000 bags	3.40	3.50

(a) Calculate Tascons inventory at the lower of cost and net realizable value.

(b) Prepare any journal entry required to record the LCNRV, assuming that Tascon uses a perpetual inventory system.

(c) Explain whether Tascon should consider each type of coffee bean separately when determining the lower of cost and net realizable value. Identify an argument in support of both types of coffee beans being considered as part of one inventory grouping.