Grouper Furniture Shop Inc. uses the lower of cost and net realizable value basis (LCNRV) for reporting its inventory. The following data are available at December 31 Units Net Realizable Value Cost/Unit 22 18 $274 138 Tables Large Small Chairs Plastic Wooden $271 150 41 45 21 41 42 30 la) Prepare the adjusting journal entry required, if any, to record the lower of cost and net realizable value of the inventory assuming Grouper Furniture Shop uses a perpetual inventory system. (List all debit entries before credit entries. 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 Dec. 31