Data related to the inventories of kimzey medical supply are presented below: surgical equipment surgical supplies rehab equipment rehab supplies selling price $260 $120 $340 $165 cost 179 90 250 162 replacement cost 240 80 25 158 costs to sell 30 5 25 10 normal gross profit ratio 30% 30% 30% 20% calculate the ending inventory using the lower of cost or market rule assuming the valuation method is applied to each inventory item. prepare the necessary journal entry to be recorded.