A company reports inventory using the lower of cost and net realizable value. Below is information related to its year end inventory Inventory Itea a Item B Quantity cost NRV 120 321 329 402919 a. Calculate ending inventory under the lower of cost and net realizable value Ending on 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 Record the adjusting entry for inventory Help 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 Record the adjusting entry for inventory. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal