A company reports inventory using the lower of cost and net realizable value. Below is information related to its year-end inventory: Inventory Item A Item B Quantity 130 Cost $ 28 NRV $ 33 40 33 23 1. Calculate ending inventory under the lower of cost and net realizable value. 2. Record any necessary adjusting entry to inventory. Complete this question by entering your answers in the tabs below. Required A Required B Calculate ending inventory under the lower of cost and net realizable value. Ending inventory < Required A Required B >