Part X (6 Marks) Service R Us has products in its ending merchandise inventory as of December 31, 2019 as listed in the table below. REQUIRED: 1. Calculate the lower of cost and net realizable value (LCNRV) applied separately to each product. Complete the table below. Product Total Total Cost NRV $7,200 $7,600 Quantity Cost/unit NRV/unit 80 $90 $95 LCNRV Keyboards External drives 75 57 52 $4,275 $3,900 Screens 36 105 90 $3,780 $3,240 Total $15,255 $14,740 2. Prepare the appropriate adjusting entry, if required, based on your calculation in part 1. GENERAL JOURNAL DATE ACCOUNT TITLES AND EXPLANATION DEBIT CREDIT Complete on the Excel DATA Sheet