Please complete in excel

#3 1 pt. The Cheybogan Company has four products in its inventory. Information about the March 31, 2021 inventory is as follows: Product # 101 $ 102 103 104 Total Total Net Replacement Realizable Total Cost Cost Value 120,000 $ 72,000 $ 120,000 90,000 85,000 110,000 60,000 40,000 50,000 30,000 70,000 65,000 . The normal profit is 35% of total cost. Set up a schedule below in any way that makes sense to you and your partner that shows how inventory 3/31/21 is calculated using the lower of cost or market (LCM) rule applied to individual products. Add rows and columns as needed. Reference cells and use IF statements and MEDIAN. Provide a descriptive header for each column. 3b. Write the adjusting journal entry required on 3/31/21 to write down inventory, if necessary. Debit Credit #3 1 pt. The Cheybogan Company has four products in its inventory. Information about the March 31, 2021 inventory is as follows: Product # 101 $ 102 103 104 Total Total Net Replacement Realizable Total Cost Cost Value 120,000 $ 72,000 $ 120,000 90,000 85,000 110,000 60,000 40,000 50,000 30,000 70,000 65,000 . The normal profit is 35% of total cost. Set up a schedule below in any way that makes sense to you and your partner that shows how inventory 3/31/21 is calculated using the lower of cost or market (LCM) rule applied to individual products. Add rows and columns as needed. Reference cells and use IF statements and MEDIAN. Provide a descriptive header for each column. 3b. Write the adjusting journal entry required on 3/31/21 to write down inventory, if necessary. Debit Credit