Question 2 Dover plc began operations in 2022 and determined its ending inventory at cost and at NRV at December 31, 2022, and December 31, 2023. This information is presented below. 12/31/22 12/31/23 Cost 346,000 410,000 Net Realizable Value 322,000 390,000 Required: a. Prepare the journal entries required at December 31, 2022, and December 31, 2023, assuming inventory is recorded at LCNRV and a perpetual inventory system using the cost-of-goods-sold method. b. Prepare journal entries required at December 31, 2022, and December 31, 2023, assuming inventory is recorded at cost with a perpetual system. Use the loss method to record any LCNRV. c. Which of the two methods above provides the higher net income in each year