Yellow Co. is preparing its financial statements for the current year ending December 31. Ending inventory information about the three major items stocked for regular sale follows: Item XX YY ZZ Quantity 100 150 200 Cost per Item $ 30 80 100 Net Realizable Value (MKT Value) per Item $ 22 88 105 a Compute the valuation that should be used for the ending inventory using the lower of cost or NRV (market) rule applied on an item-by-item basis (5 pr.) b. Then, prepare the journal entry to record the write-down, if any, (5 pt.) Date Accounts Debit Credit Dec. 31