Nutritional Foods reports merchandise inventory at the lower$-$of$-$cost$-$or$-$market. Prior to releasing its financial statements for the year ended March $31,2025,$ Nutritional's preliminary income statement, before the year$-$end adjustments, appears as follows:

$($Click the icon to view the preliminary income statement.$)$

Nutritional has determined that the current replacement cost of ending merchandise inventory is $$20,000,$ Cost is $$26,000.$

Read the requirements.

Requirement $1.$ Journalize the adjusting entry for merchandise inventory, if any is required. $($Record debits first, the For situations that do not require an entry, make sure to select $"$No entry required" in the first cell in the "Accounts" $c$

$\backslash$table$[[$Date$,$Accounts and Explanation,Debit,Credit$],[$Mar$.31],[,,,],[,,,],[,,,],[,,,]]$

Data table

$\backslash$table$[[\backslash$table$[[$Nutritional Foods$],[$Income Statement $($Partial$)],[$Year Ended March $31,2025]]],[$Net Sales Revenue,$$,115,000],[$Cost of Goods Sold,,$50,000],[$Gross Profit,$$,65,000]]$