! 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. Unit Cost Inventory Furniture Electronics Quantity 190 49 $ 84 Unit NRV $ 99 295 390 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 Electronics Quantity 190 49 Unit Cost $ 84 390 Unit NRV $ 99 295 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 Check my work 5 Home Furnishings reports inventory using the lower of cost and net realizable value (NRV). Below is information related to its year-end inventory. para Inventory Furniture Electronics Quantity 190 49 Unit Cost $ 84 390 Unit NRV $ 99 295 Part 3 of 3 0.5 points 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.) eBook Hint View transaction list Print References Journal entry worksheet Record the adjustment for inventory. Note: Enter debits before credits. Transaction General Journal Debit Credit 1