Lower of cost or NRV applied by Items Classification Keyboards Stock A Stock B Stock C Hard drives Stock X Stock y CD Burners Stock D Stock E Lower of cost or NRV 0 $ 0 2. Prepare the entry to record the writedown, if any, to reduce ending inventory to lower of cost or NRV. Assume periodic inventory and the allowance method. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the allowance to reduce inventory to LC/NRV by individual items. Note: Enter debits before credits. Debit General Journal Transaction Credit (a)