Required information Exercise 6.14 (Algo) Calculate inventory using lower of cost and net realizable value (LO6.6) [The following information applies to the questions displayed below] A company like Golf USA that selis golf-related inventory typically will have inventory items such as goif clothing and golf equipment. As technology advances the design and performance of the next generation of drivers, the older models becomeless marketable and therefore decline in value. Suppose that in the current year, Ping (a manufacturer of goif clubs) introduces the MegaDriver II, the new and improved version of the MegaDriver. Below are year-end amounts related to Golf USAs inventory Exercise 6-14 (Algo) Part 3 3. Record any hecessary adjusting entry to inventory. (If no entry is required for a tronsoction/event, select "No Journal Entry Required" in the first occount field.)