Question 4 Not yet answered Marked out of 5.00 Flag question Violet Ltd. retails gardening equipment and has five main product lines: mowers, vacuum blowers, edgers, garden tools and fences. At December 31, 2021, cost and net realizable values for each product line were as shown below: Inventory item Equipment category Mowers Vacuum blowers Edgers Quantity Cost per unit $ NRV per unit $ 16 215.80 256.00 113 62.35 60.00 78 27.40 36.00 Non-electrical category Garden tools 129 12.89 11.00 Fences 57 43.11 55.00 Assume the company used major-inventory category approach for LCNRV. How much is the adjustment needed to the "Allowance to reduce inventory down to NRV" if it has 387 credit balance before the adjustment? Round your answer to 2 decimal places if necessary. (Hint: if you want to decrease the allowance account, please use a negative sign for your answer). (5 marks)