Part X (6 Marks) Service R Us has products in its ending merchandise inventory as of December 31, 2021 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. Total Cost $7,200 Quantity Cost/unit NRV/unit 80 $90 $95 75 57 52 LCNRV Total NRV $7,600 Product Keyboards External drives Screens Total $4,275 $3,900 36 105 90 $3,780 $3,240 $15,255 $14,740 2. Prepare the appropriate adjusting entry, if required, based on your calculation in part 1. GENERAL JOURNAL ACCOUNT TITLES AND EXPLANATION DATE DEBIT CREDIT Complete on the Excel DATA Sheet