Required information Exercise 6-13A Calculate inventory using lower of cost and net realizable value (L06-6) {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 Quantity Electronics 53 Inventory Purniture 230 Unit Cout $ 88 430 Unit NRV $103 315 Exercise 6-13A Part 1 Required: 1. Calculate the total recorded cost of ending inventory before any adjustments, Cost of ending inventory (before adjustment) Required information Exercise 6-13A Calculate inventory using lower of cost and net realizable value (L06-6) [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 Purniture Electronics Quantity 230 53 Unit cost $ 88 430 Unit NRV $103 315 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 Unit Ending Inventory Furniture Electronics $ 0 Required information Exercise 6-13A Calculate inventory using lower of cost and net realizable value (L06-6) [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 Quantity Inventory Furniture electronics 230 53 Unit Cost $ 88 430 Unit NRV $103 315 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 Transaction General Journal Debit Credit