Showtime Companys ending inventory at December 31, 2023, includes the following items:

Product	Units on Hand	Unit Cost	Net Realizable Value Per Unit
BB		27		$	115		$	120
FM		10			150			143
MB		41			191			177
SL		45			83			97

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).