Units Lower of Cost or Net Realizable Value The accountant for Murphy Company prepared the following analysis of its inventory at year endi Item Cost per Unit Net Realizable Value RSK-89013 $38 $44 LKW-91247 329 45 QEC-57429 462 25 460 49 33 Required: 1. Compute the carrying value of the ending inventory using the lower of cost or net realizable value rule applied on an item-by-item basis. 2. Prepare the journal entry required to value the inventory at lower of cost or het realizable value. If an amount box does not require an entry, leave it blank Cost of Goods Sold Inventory