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The following information pertains to the physical inventory of Electronics Unlimited taken at December 31: Per Unit Cost NRV $180 215 169 95 $191 195 185 Units on Product Hand Audio equipment: Wireless audio receivers 345 Touchscreen MP3 players 260 Audio mixers 326 Audio stands 204 Video equipment: Televisions 480 SGB video cards 291 Satellite video recorders 212 Car equipment: GPS navigators 185 Double-DIN Car Deck with iPod/iPhone Control 170 and Aux Input 290 175 610 245 163 639 137 163 190 Required: 1. Calculate the LCNRV for the: a. inventory by major group b.inventory, applied separately to each product. Required: 1. Calculate the LCNRV for the: a. inventory by major group b. inventory, applied separately to each product. Per Unit LCNRV applied to: b. a. Separately Major to Each Group Product Inventory Items Units on Hand Cost NRV Total cost Total NRV Audio equipment Wireless audio receivers 345 $ 180 S 191 Touchscreen MP3 players 260 215 195 Audio mixers 326 169 185 Audio stands 204 95 77 Subtotal Video equipment Televisions 480 290 245 1GB video cards 291 175 163 Satellite video recorders 212 610 639 Subtotal 185 137 163 Car equipment GPS navigators Double-DIN Car Deck with iPod/iPhone Control & Aux Input Subtotal 17 190 205 Totals 2. Prepare the appropriate entry, if any, for 1(a) and 1(b). View transaction list Journal entry worksheet 1 2 Record the entry to write inventory down to LCNRV(major group). Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Accounts payable Accounts receivable Cost of goods sold Gross margin Record er View general journal 2. Prepare the appropriate entry, if any, for 1(a) and 1(b). View transaction list Journal entry worksheet 1 2 Record the entry to write inventory down to LCNRV(separately to each product). Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal