calabogie camera shop ltd$,$ reports the following cost and net

realizable value information por tis inventory at decamber $31$

unit unitcost unit NRV

cameras:

Light meters:

LCNRV

Cameral:

Sony $$672$

canon $1248$

Light meters

$9-$ prepare the adJesting Journal entry required, If any, to record

the lower of cost and net realizable value of the inventory

assuming calabogie camera shop wes a perpetual inventary

system. List all debit entries before credit orter.

cost of goods sold $=112$

inventory $=112$

$($ A physcal inventoy count found that $2$ of the canon cameras

Were badly damaged. It was determined they had no resale

Value prepare the adjusting entry required, if any, to record

the damaged cameras