Showtime Company's ending inventory at December 31, 2020, includes the following items: Product BB FM MB SL Units on Hand 37 20 51 55 Unit Cost $ 110 145 186 78 Net Realizable Value Per Unit $ 115 138 172 92 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 $ c. Prepare the appropriate adjusting entry, if required, based on your calculations in (b). View transaction list Journal entry worksheet 1 Record the entry to write down Inventory to NRV. Note: Enter debits before credits. Debit Credit Date General Journal Dec 31, 2020 View general Journal Clear entry Record entry