Corporation had the following items in inventory as at December 31, 2017 Unit Item No. QuantityCost NRV A1 B4 C2 D3 170 $4.00 $4.30 180 5.00 4.70 250 11.00 11.70 240 12.00 11.40 Assume that Blossom uses a periodic inventory system, and that none of the inventory items can be grouped together for accounting purposes. The opening inventory on January 1, 2017, was $3,310 in total. Prepare the year-end adjusting entries required to adjust to the lower of cost or net realizable value using the direct method. (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 0 for the amounts.) Direct Method: DateAccount Titles and Explanation Debit Credit December 31, 2017 (To record opening inventory) December 31, 2017 (To record ending inventory) Prepare the year-end adjusting entries required to adjust to the lower of cost or net realizable value using the indirect method. (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 0 for the amounts.) Indirect Method: Date Account Titles and Explanation Debit Credit December 31, 2017 (To record opening inventory) December 31, 2017 (To record ending inventory) December 31, 2017[ ] [