The following information pertains to the physical inventory of Electronics Unlimited taken at December 31:

		Per Unit
Product	Units on Hand		Cost		NRV
Audio equipment:
Wireless audio receivers	337		$187		$198
Touchscreen MP3 players	252		222		202
Audio mixers	318		176		192
Audio stands	196		102		84
Video equipment:
Televisions	472		297		252
1GB video cards	283		182		170
Satellite video recorders	204		617		646
Car audio equipment:
GPS navigators	177		144		170
Double-DIN Car Deck with iPod/iPhone Control & Aux Input	162		197		212

Required: 1.Calculate the LCNRV: a.For the inventory by major group b.For the inventory, applied separately to each product.

2.Prepare the appropriate entry, if any, for 1(a) and 1(b).(If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

1. How do I fill in the blank columns for #1 (Table attached)

2. How do I enter the 2 journal entries (Table attached)