6: Practice Recording Inventory Transactions and Lowe... Powder Ski Shop reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its year-en inventory. 1 points Q 03:10-57 Record any necessary adjusting entry for the lower of cost and net realizable value. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Record any necessary adjusting entry for the lower of cost and net realizable value. Note: Enter debits before credits