Question 9 (4 points) On February 28, 2020, Sonny's Shovel Shop is determining the lower of cost and net realizable value of its inventory. Required: a. In the table below, determine the lower of cost and net realizable value of the ending inventory assuming Sonny's Shovel Shop applies LCNRV on individual items. b. Prepare the journal entry required, if any, to record the adjustment from cost to the lower of cost and net realizable value. Paragraph B I UA Part a. C GO Product Total Cost Total NRV LCNRV Shovel $700 $770 Scoop $840 $728 Total $1,540