Powder Ski Shop reports inventory using the lower of cost and net realizable value (NRV). Below is Information related to its year-end inventory. Inventory Ski jackets. Skis Unit Unit Quantity 25 Cost NRV $119 30 $95 304 354 Record any necessary adjusting entry for the lower of cost and net realizable value. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet < 1 Record any necessary adjusting entry for the lower of cost and net realizable value. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Cost of Goods Sold Inventory Record entry Clear entry View general journal < Prev 6 of 6 Next >