Camp Company began operations in 20X1. Camp uses FIFO inventory costing and reports its inventory at LCNRV. The Cost of Goods Sold method is used to adjust cost to LCNRV. The company's ending inventory at cost and LCNRV at the end of 20X1 and 20X2 are as follows: Cost Net Realizable Value 12/31/X1 $132,000 $122,000 12/31/X2 125,000 127,000 What the journal entry would Camp make at December 31, 20X2 to adjust cost to LCNRV? Select answer from the options below No adjusting entry is needed. Debit Inventory, $2,000; Credit Cost of Goods Sold, $2,000. Debit Cost of Goods Sold, $10,000; Credit Inventory, $10,000. Debit Cost of Goods Sold, $2,000; Credit Inventory, $2,000