Purple Corp. had a fire sprinkler go off in a warehouse, damaging 1,250 units of its regular inventory. Information with respect to the units: . Cost, $68 per unit Regular selling price, $94 per unit .Estimated selling price once repaired, $50 per unit . Estimated repair cost, $21.20 per unit Variable selling cost, $4.80 per unit The company keeps perpetual inventory records Required: 1. Determine the value to be assigned to each damaged unit. NRV for inventory 2. Assume that the company segregates damaged inventory in a separate account. Provide the journal entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 2. Assume that the company segregates damaged inventory in a separate account. Provide the journal entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet