Showtime Company's ending inventory at December 31, 2020, includes the following items: Units on Hand 31 Product BB FM MB SL Net Realizable Value Per Unit $ 124 147 181 101 Unit Cost $ 119 154 195 87 20 45 49 Required: Calculate LCNRV for the inventory: a. As a whole (assuming the items are similar). LCNRV applied to inventory b. Applied separately to each product Product Total Cost Total NRV LCNRV applied to Each Product BB FM MB SL $ 0 $ 0 $ 0 4 c. Prepare the appropriate adjusting entry, if required, based on your calculations in (b) View transaction list Journal entry worksheet Record the entry to write down inventory to NRV Note: Enter debits before credits General Journal Date Credit Debit Dec 31, 2020