Parson Company was formed on January of the current year and is preparing the annual franca statements dated December 31, cum you. Ending inventory information about the four major tem sted for regale NO NO INVENTONY CURRENT YEAR Note We cured Value Make FO Yar End $10 521 10 50 68 35 30 on Hand 20 61 41 10 Required: 1. compute the valuation that should be used for the current year ending inventory using the LCM applied on an em-bytem basis Quantity Total Cost Market Lou Valuation A 11 01 3 16 Total 5 OS 05 0 2. What will be the effect of the write down of inventory to lower of costo market on cost of goods sold for the year ended December 31, current year? The who wrot.com will crosso by the write down