Wolfe Company uses the lower-of-cost-or-market method in pricing its inventory items. The inventory at December 31. 2011, consists of products D, E, F, G, H, and I. Relevant per-unit data for these products appear below. Using the using IFRS guidance, properly value the inventory as of December 31, 2011 on an individual and total inventory basis. Provide the journal entry necessary to properly value the inventory