Prepare the journal entry for the inventory write-down using the LCM, net realizable method Company A is preparing their annual financial statements dated December 31, 20X1. Ending inventory is presently recorded at its total cost of $5,465. Information about its inventory item is as follows: Unit Cost When Value at Year-End Acquired (FIFO) Product Line Quantity on Hand Product A 20 12 14 Product B 75 40 38 Product C 35 55 50 Product D 10 30 35