Crane Company uses a perpetual inventory system and the FIFO 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 Crane Company's year end, December 31: Net Realizable Value per Unit Units Unit Cost Clothing Jewellery Greeting cards Stuffed toys Determine the lower of cost and net realizable value of the ending inventory assuming Crane Company applies LCNRV on individual items. Lower of cost and net realizable value S 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 for the amounts.) Account Titles and Explanation Debit Credit (To write down inventory to lower net realizable value.) Current Attempt in Progress On July 31, Crane Company had the following data related to the retail inventory method: goods available for sale at cost $23,328; at retail $36,000; and sales of $26,000. Calculate the estimated cost of the ending inventory using the retail inventory method. (Round percentage to 2 decimal places, e.g 52.75% and final answer to 0 decimal places, e.g. 5,275.) Estimated cost of ending inventory $