Porter Photography Ltd. reports the following cost and net realizable value information for its inventory at March 31: Units Unit Cost Unit NRV Cameras: Fuji $175 $162 4 151 Samsung 154 Light Meters: Gossen 12 136 140 Sekonic 112 10 108 Part 1 Determine the lower of cost and net realizable value of the ending inventory LCNRV Cameras: Fuji Samsung Light Meters: Gossen Sekonic Total Part 2 Prepare the adjusting journal entry required, Iif any to record the lower of cost and net realizable value of the inventory assuming Porter Photography 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 O for the amounts.) Credit Debit Account Titles and Explanation Date Dec. 31 Part 3 A physical inventory count at December 31 found that two of the Samsung 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) Debit Credit Account Titles and Explanation Date Dec. 31