A company reports inventory using the lower of cost and net realizable value. Below is Information related to its year-end inventory Inventory Unit A Unit B Unit C Unit D Quantity 12 20 14 17 Cost $34 43 22 18 NRV $36 40 26 17 a. Calculate ending inventory under the lower of cost and net realizable value Ending inventory b. Prepare the necessary adjusting entry to inventory. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 Record the adjusting entry for inventory. Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal