Blossom Company uses a perpetual inventory system and the FI F0 cost formula for valuing inventory. The company is now in the process of comparing the cost of its inventory with its net realizable value. The following data are available at Blossom Company's year end, December 31: Net Realizahle Value Units Unit Cost per Unit Clothing 85 $6 $5 Jewellery 67 20 27 Greeting cards 40 1 2 Stuffed toys 50 1 l 38 Determine the lower of cost and net realizable value of the ending inventory assuming Blossom Company applies LCN RV on individual items. Lower of cost and net realizable value 5 I Prepare the journal entry required, if any, to record the adjustment from cost to net realizable value. (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 O for the amounts.) Account Titles and Explanation Debit Credit (To write down inventory to lower net realizable value.)