Per Unit		Total		LCM applied to:
Item	Units	Cost	Market	Cost	Market		Individual Items
Car audio equipment
Speakers	343	$98	$106
Stereos	258	119	108
Amplifiers	324	94	103
Subwoofers	202	60	49
Security equipment
Alarms	478	158	133
Locks	289	101	92
Cameras	210	318	330
Binocular equipment
Tripods	183	78	92
Stabilizers	168	105	113
Total

Record LCM adjustment.

A physical inventory of Liverpool Company taken at December 31 reveals the following. Per Unit Units Cost Market Item Car audio equipment Speakers Stereos Amplifiers Subwoofers 343 98 $106 258 119 324 94 103 202 108 60 49 Security equipment Alarms Locks 478 158 133 289 101 210318 330 92 eras Binocular equipment Tripods Stabilizers 168 105 113 Required: 1. Calculate the lower of cost or market for the inventory applied separately to each item. 2. If the market amount is less than the recorded cost of the inventory, then record the LCM adjustment to the Merchandise Inventory account. Complete this questions by entering your answers in the tabs below. Required 1 Required 2 If the market amount is less than the recorded cost of the inventory, then record the LCM adji Inventory account