Showtime Company$$s ending inventory at December $31,2023,$ includes the following items:

Product Units on Hand Unit Cost Net Realizable Value Per Unit

BB $36$ $ $111$ $ $116$

FM $15146139$

MB $50187173$

SL $547993$

Required:

Calculate LCNRV for the inventory:

a$.$ As a whole $($assuming the items are similar$).$

b$.$ Applied separately to each product.

c$.$ Prepare the appropriate adjusting entry, if required, based on your calculations in $($b$).$