The following information pertains to the physical inventory of Electronics Unlimited taken at December 31 Per Unit Units on Hand Cost NRV 332 247 313 191 $199 203 193 85 $188 223 177 103 Product Audio equipment: Wireless audio receivers Touchscreen MP3 players Audio mixers Audio stands Video equipment: Televisions SGB video cards Satellite video recorders Car equipment: GPS navigators Double-DIN Car Deck with iPod/iPhone Control and Aux Input 467 278 199 253 171 613 298 183 618 172 145 171 213 157 198 Required: 1. Calculate the LCNRV for the a. Inventory by major group 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 Separately to Each Product 199 $ Audio equipment Wireless audio receivers Touchscreen MP3 players Audiomes Audio stands Subtotal 332 $ 247 313 191 203 193 188 223 177 85 103 Video umet 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 Cost NRV Total cost LCNRV applied to: b Separately Major Group to Each Product Total NRV 332 $ Audio equipment Wireless audio receivers Touchscreen MP3 players Audio mixers Audio stands Subtotal 247 313 191 199 $ 203 193 188 223 177 103 85 Video equipment Televisions 5GB video cards Satellite video recorders Subtotal 2 467 278 253 171 298 183 199 613 618 Car equipment GPS navigator Double-DIN Car Deck with PoolPhone Control & Aux input Subtotal 172 171 145 157 213 198 Totals 2. Prepare the appropriate entry, if any, for 1(a) and 1(b). View transaction list Journal entry worksheet 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