Required information [The following information applies to the questions displayed below.) A company 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 150 45 Unit Cost $ 80 350 Unit NRV $ 95 275 3. Record any necessary adjustment to inventory. (If no entry is required for a transaction/event, select "No Journal Entry Require in the first account field.) View transaction list Journal entry worksheet Record the adjustment for inventory. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit