The December 31, 2017 inventory of Portal Company consisted of tour products, tor which certain information is provided below Product Original Cost Expected Seling Prics Normal Prot $24.00 Disposal Cost 56 50 $10 00 $25 00 34.00 22 00 542 00 $19.00 1. Complete the following chart 340.00 $115.00 $120.00 $190.00 $26.00 30% 10% $15.80 Instructions Lower-of- Designated FloorMarket Cost. asso 2550 24 534. Market LCNRY 33, SO 38 lo y 13.uo 13 LO 9 1o8.02 There are 1000 units of each item. The company uses an allowance account. a. Assuming the company uses LCM, prepare the necessary journal entries to 2. inventory using the COGS method and the LOSS method da Meleed Joh due ho Inventory Inventor Aeeowondo to reduca inucn ko NRU Prepare the entries to adjust inventory assuming the company uses LCNRV The December 31, 2017 inventory of Portal Company consisted of tour products, tor which certain information is provided below Product Original Cost Expected Seling Prics Normal Prot $24.00 Disposal Cost 56 50 $10 00 $25 00 34.00 22 00 542 00 $19.00 1. Complete the following chart 340.00 $115.00 $120.00 $190.00 $26.00 30% 10% $15.80 Instructions Lower-of- Designated FloorMarket Cost. asso 2550 24 534. Market LCNRY 33, SO 38 lo y 13.uo 13 LO 9 1o8.02 There are 1000 units of each item. The company uses an allowance account. a. Assuming the company uses LCM, prepare the necessary journal entries to 2. inventory using the COGS method and the LOSS method da Meleed Joh due ho Inventory Inventor Aeeowondo to reduca inucn ko NRU Prepare the entries to adjust inventory assuming the company uses LCNRV