Required information Exercise 6-13A Calculate inventory using lower of cost and net realizable value (LO6-6) [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 Electronics Quantity 190 49 Unit Cost $ 84 390 Unit NRV $ 99 295 Exercise 6-13A Part 1 Required: 1. Calculate the total recorded cost of ending inventory before any adjustments. Cost of ending inventory (before adjustment) Exercise 6-13A Part 2 2. Calculate ending inventory using the lower of cost and net realizable value. Inventory Quantity Lower of Cost and NRV per Ending Inventory unit Furniture Electronics Exercise 6-13A Part 3 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 list Journal entry worksheet 1 > Record the adjustment for inventory. Note: Enter debits before credits. General Journal Debit Credit Transaction 1