Accounting for fair value hedge of inventory (ineffectiveness in the hedge) Our company reports commodities inventory on our balance sheet at $2 million. The irwentory has a fair value of 52.2 malion and we are concerned about a forccisted decline in tie commodity price We a financial derivative in arder to mitigate this risk- On the Last day of the period, the fair value of the inventory hos dedined ty 150 ooo whereas, the far value of the deriwathe has increased by 345,000 . All of the inventory is sold at its fair valie and the derivative is settied an the last day of the perod Complefe the following table of the iequied journal entres during the period: Use a neindives shen with ypur answers to indicate a credit entry