As a result of its annual inventory count Pina Colada Corp. determined its ending inventory at cost and at lower of cost and net realizable value at December $31,2022,$ and December $31,2023$ December $31,2022,$ was Pina Colada's first year end $.$ This information is as follows : Lower of Cost Cost and NRV Dec. $31,2022$ $$322,000$ $ $283,650$ Dec $31,2023385,100351,750($a$)$ Prepare the journal entries required at December $31,2022$ and $2023$assuming that the inventory is recorded directly at the lower of cost and net realizable value and a periodic inventory system is used $($Credit account titles are automatically indented when the amount is entered $.$ Do not indent manually If no entry is required $,$ select $"$No Entry for the account titles and enter for the amounts List all debit entries before credit entries $)$ DateAccount Titles and Explanation Debit Credit $(12/31)/22$ To record ending inventory at LC and NRV$)(12/31)/23$