Sage Hill, Inc. values its inventory at the lower-of-LIFO-cost-or-market. The following information is available from the company's inventory records as of December 31, 2020, Unit Cost Replacement Cost/Unit Estimated Selling Price/Unit Completion & Disposal Cost/Unit Normal Profit Margin/Unit Item Quantity X490 10,812 $13.25 $12.67 $14.84 $3.18 $3.60 X512 5.247 7.42 7.95 9.43 0.27 1.91 X682 19,080 20.14 19.72 33.44 3.45 9.54 7195 13.250 15.11 14.84 20.99 1.48 6.10 2846 9.116 12.72 13.52 14.79 2.23 1.17 Calculate the lower-of-cost-or-market using the individual-item approach. (Round answers to 2 decimal places, e.g. 52.75.) Lower-of-Cost-or-Market (Per unit basis) X490 $ X512 $ 7.42 X682 $ X195 $ 14.84 X846 $ Show the journal entries Sage Hill, Inc. will need to make in order to write down the ending inventory from cost to market. Assume this is Sage Hill's first year of operations. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places, e.g. 5,275.) Account Titles and Explanation Debit Credit Cost of Goods sold Method: Loss method