Stingray Company, a clothing retailer, prepared the following analysis of its inventory on December 31 . 1. Using the column at the far right, compute the carrying value of Stingray's ending inventory using the lower of cost or market rule for each product AND then total the value of Stingray's inventory assuming lower of cost or market is applied at December 31 . TOTAL 2. Prepare the journal entry needed for Stingray Company at year-end to value the inventory at lower of cost or market. If no journal entry is needed, write NO ENTRY