work Inventories and Cost of Sales Problems ces A physical Inventory of Liverpool Company taken at December 31 reveals the following Per Unit Item Defts Cost Market Car audio equipment Speakers 335 5.90 Stereos 250 111 Amplifiers 316 86 Subwoofers 194 52 Security equipment Alarms 470 150 Locks 281 93 Cameras 202 310 Binocular equipment Tripods 175 70 Stabilizers 160 97 Required: 22/webapp252Fporta252Fframes Help Save & Exit Submit Check my work 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 Merchandise Inventory account Complete this question by entering your answers in the tabs below.