This is one problem! thanks!

A physical inventory of Liverpool Company taken at December 31 reveals the following Required: 1. Compute the lower of cost or market for the inventory applied separately to each item. 2. If the matket amount is less than the recorded cost of the irventory, then record the LCM adjustment to the Merchandise Inven account. Complete this question by entering your answers in the tabs below. Compute the lower of cost or market for the inventory applied seperately to each item. A physical imventery of Liverpool Company taknn at December 31 reveals the following Required: 1. Compute the lower of cost or market for the inventory applied separately to each item. 2. If the market amount is less than the recorded cost of the inventory, then record the LCM adjustment to the Merch account Complete this question by entering your answers in the tabs below. If the market amount is less than the recorded cost of the ifventory, then record the LCM adjustment to the Merchandisa account. Journal entry worksheet