Splish Brothers, Inc. values its inventory at the lower-of-LIFO-cost-or-market. The following information is available from the companys inventory records as of December 31, 2017.

Profit Margin/Unit $3.81 2.02 10.08 6.44 1.23 Unit Repiacement Selling Disposal Cost/Unit Item Quantity Cost X490 X512 X682 Z195 Z846 Cost/Unit 11,424 $14.00 7.84 20,160 21.28 14,000 15.96 9,632 13.44 $13.38 8.40 20.83 15.68 14.28 Price/Unit $15.68 9.97 35.34 22.18 15.62 $3.36 0.28 3.64 1.57 2.35 5,544 Calculate the lower-of-cost-or-market using the individual-item approach Lower-of-Cost-or-Market (Per unit basis) X490 X512 X682 X195 X846 Show the journal entries Splish Brothers, Inc. will need to make in order to write down the ending inventory from cost to market. Assume this is Splish Brothers's first year of operations. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Account Titles and Explanation Debit Credit Goods sold Method