per Unit A specialized retailer sells four different types of products. The following is information relating to these products # of Cost Item Selling Price Units per Unit A 80 $60 $50 B 130 $100 $180 80 $120 $60 D 60 $90 $120 The company estimates selling costs to be 4% of the selling price for sales commissions. Required: (Show all supporting calculations for part marks.) (a) Calculate the amount by which the inventory should be written down if the LCNRV principle is applied on an item-by-item basis and the retailer uses the allowance method. (b) Based upon your answer above, prepare the corresponding journal entry to record the write down