Purple Corp. had a fire sprinkler go off in a warehouse, damaging 2,200 units of its regular inventory. Information with respect to the units: - Cost, $46 per unit - Regular selling price, $82 per unit - Estimated selling price once repaired, \$34 per unit - Estimated repair cost, $14.80 per unit - Variable selling cost, \$3.20 per unit The company keeps perpetual inventory records Required: 1. Determine the value to be assigned to each damaged unit. 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.)