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	331	$	200		$	189
Touchscreen MP3 players	246		204			224
Audio mixers	312		194			178
Audio stands	190		86			104
Video equipment:
Televisions	466		254			299
5GB video cards	277		172			184
Satellite video recorders	198		614			619
Car equipment:
GPS navigators	171		172			146
Double-DIN Car Deck with iPod/iPhone Control and Aux Input	156		214			199

Required: 1. Calculate the LCNRV for the:

1. inventory by major group
2. inventory, applied separately to each product.

2. Prepare the appropriate entry, if any, for 1(a) and 1(b).