Cullumber Wig Shoppe carries a number of wigs that are made specifically for people who require them while undergoing medical treatment. They use a perpetual inventory system and the FIFO cost formula for valuing inventory. The following information is available regarding the inventory on hand at year end, December 31. a Unit Net Realizable Value Types: Units Unit Cost Marilyn 13 $130 $126 Farrah 13 221 230 Jane 9 68 97 J-Lo 9 189 195 Cpt. Kirk 10 155 1113 Assume Cullumber made the required journal entry at year end based on the LCNRV as determined in part (a). Shortly after year end, as the economy recovered, it was determined that the NRV of this inventory had increased by $642. Prepare the journal entry required, if any, to record this recovery. (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.) Date Account Titles and Explanation Debit Credit Jan 31 Cost of Goods Sold Merchandise Inventory 472