The records of Loren Movers Ltd. contained the following inventory data 20X1 20X2 NRV Item A $10,000 $s 9,000 S 5,000 3,000 40,000 35,000 10,000 9,000 Item B Item C 8 25,000 33,000 45,00052,000 $75,000 $77,000 60,000 64,000 Category 2 tem E Item F tem D18,000 $16,500 $12,000 10,500 1,000 42,000 42,000 56,000 54,000 20,000 4,000 4,000 Required 1. Calculate two different amounts that could justifiably be recorded as the allowance to reduce inventory to lower-of-cost-or-NRV at the end of 20X1 2. Record the 20X1 method. (If no entry is required for a transactio -or-NRV adjustments (if any) for each of the two amounts fromr