Current Attempt in Progress

Given the following inventory information, prepare the journal entry $($if needed$)$ to adjust the inventory for LCNRV if the loss method

is used. $($List debit entry before credit entry. 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 O for the amounts.$)$

Account Titles and Explanation

Debit

Credit