Data related to the inventories of Shanahan are presented below: Bowling Balls $44 $35 $12 $31 210 Resistance Bands $59 $39 $13 $41 140 Selling price Cost Costs to sell Replacement cost Quantity Use the information in the table above to answer the following questions. In applying the lower of cost or net realizable value rule, what should Shanahan report as its inventory balance on its balance sheet? (3 points] Record Shanahan's adjusting entry for the inventory write-down, if any (3 points] Account Debit Credit O No Journal Entry Required