Required: 1. Calculate the total recorded cost of ending inventory before any adjustments. Cost of ending inventory (before adjustment) Required information The following information applies to the questions displayed below.) Home Furnishings reports inventory using the lower of cost and net realizable value (NRV). Below is Information related to its year-end Inventory Inventory Furniture Electronica Quantity 260 56 Unit Cost $ 91 460 Unit NRV $106 330 3. Record any necessary adjustment to inventory. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account field.) View transaction lit ces Journal entry worksheet