need help in the last part

Current Attempt in Progress Sheridan Wig Shoppe carries a number of wigs that are made specifically for people who require them while undergoing medical treatment. They use a perpetual inventory system and the FIFO cost formula for valuing inventory. The following information is available regarding the inventory on hand at year end, December 31. Types: Units Unit Cost Unit Net Realizable Value Marilyn 14 $152 $148 Farrah 10 224 230 Jane ga 7 8 1 7 74 99 J-LO 191 220 Cpt. Kirk 11 162 108 (a) Your answer is correct Assuming Sheridan values each type of wig separately, determine the lower of cost and net realizable value of the ending inventory. Lower of cost and net realizable value 7546 e Textbook and Media List of Accounts Attempts: 1 of 3 used (b) Your answer is correct Prepare the journal entry required, if any, to record the adjustment at year end. (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 tities and enter for the amounts.) Date Account Titles and Explanation Debit Credit Dec 31 Cost of Goods Sold 650 Merchandise Inventory 650 (To record the decline in inventory value.) Now assume Sheridan combines all wigs together for the purposes of determining LCNRV. What amount should be reported on Sheridan's balance sheet at year end? Value of inventory 8013 e Textbook and Media Solution List of Accounts Attempts: 3 of 3 used (d) Assume Sheridan made the required journal entry at year end based on the LCNRV as determined in part (a). Shortly after year end, as the economy recovered it was determined that the NRV of this inventory had increased by $823. Prepare the journal entry required, if any, to record this recovery. (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 Ofor the amounts.) Date Account Titles and Explanation Debit Credit Jan-31 (To record the recovery in inventory value)