The management of Aspen company believes that under the lower of cost or market rule, the 2 items below are reported in ending inventory at $129,500. Inventory cost is reported using LIFO. Item A: 2,260 in inventory; cost is $23 each; replacement cost is $15 each; estimated sale price is $32 each; estimated distribution cost is $2 each: and normal profit is 10% of sale price. Item B: 1,540 in inventory, cost is $52 each: replacement cost is $35 each; estimated sale price is $95 each: estimated distribution cost is $25 each: and normal profit is 20% of sale price. a. Compute your inventory valuation by item and in total for the Aspen Company inventory reported above. Inventory valuation for Item A Inventory valuation for Item B only solve part b Total inventory valuation b. Prepare the entry, if any, to report inventory at the lower-of-cast-or-market. Assume that all adjustments directly impact cost of goods sold and inventory