Brooks Company carries three Inventory Items. The following Information pertains to the ending Inventory Unit Market Item Quantity Unit Cost Value 128 $ 60 $ 55 178 83 118 BE 75 40 Prepare the necessary journal entry, assuming the decline in value was immaterial. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Event General Journal 1 1 Cost of goods sold Merchandise inventory Debit Credit