The following information pertains to the physical inventory of Electronics Unlimited taken at December 31 Per Unit Units on Hand Cost NRV 328 243 309 187 $194 198 188 86 $183 218 172 98 Product Audio equipment: Wireless audio receivers Touchscreen MP3 players Audio mixers Audio stands Video equipment: Televisions 5GB video cards Satellite video recorders Car equipment: GPS navigators Double-DIN Car Deck with iPod/iPhone Control and Aux Input 463 274 195 248 166 608 293 178 613 168 166 140 153 208 193 Required: 1. Calculate the LCNRV for the a. Inventory by major group b. Inventory, applied separately to each product Per Unit Inventory Items Units on Hand LCNRV applied to: b. a Major Separately to Each Group Product Cost NRV Total cost Total NRV $ 194 $ Audio equipment Wireless audio receivers Touchscreen MP3 players Audio mixers Audio stands Subtotal 328 243 309 187 198 188 183 218 172 98 80 463 Video equipment Televisions 1GB video cards Satellite video recorders Subtotal 248 166 274 293 178 613 195 608 b. Inventory, applied separately to each product Per Unit LCNRV applied to Inventory Items Units on Hand Cost NRV Total cost Total NRV Major Group b Separately to Each Product 183 Audio equipment Wireless audio receivers Touchscreen MP3 players Audio mixers Audio stands Subtotal 328 $ 243 42 1945 198 188 309 187 218 172 98 8 Video equipment Televisions 1GB video cards Satee video recorders Subtotal 463 274 195 248 166 608 293 178 613 168 Car equipment GPS navigators Double-DIN Car Deck with iPod Phone Control & Aux Input Subtotal 166 140 153 208 193 Totals 2. Prepare the appropriate entry, if any, for 1(a) and 1(b). View transaction list Journal entry worksheet 2 Record the entry to write inventory down to LCNRV(major group). Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general Journal 2. Prepare the appropriate entry, if any, for 1(a) and 1(b). View transaction list Journal entry worksheet 2 Record the entry to write inventory down to LCNRV(separately to each product). Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal