Littleton Electronics Ltd. reports the following cost and net realizable value information for its inventory at January 31: Determine the lower of cost and net realizable value of the ending inventory. Prepare the adjusting journal entry required, if any, to record the lower of cost and net realizable value of the inventory assuming camera Shop uses a perpetual inventory system. (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 0 for the amounts.) A physical inventory count at December 31 found that Minolta cameras were badly damaged. It was determined they had no resale value. Prepare the adjusting entry required, if any, to record the damaged cameras. (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 0 for the amounts.)