Required information [The following information applies to the questions displayed below.) A local Chevrolet dealership carries the following types of vehicles: Unit Unit Inventory Items Quantity Cont Vans $23,000 $21,000 Trucks 5 17,200 16,200 2-door sedan 12,200 14,200 4-door sedan 16,200 19,200 sports cars 33,000 36,000 SUVS 28.400 24.000 NRV Because of recent increases in gasoline prices, the car dealership has noticed a reduced demand for its SUVs,vans, and trucks. Required: 1. Compute the total cost of the entire inventory. Total cost Required information [The following information applies to the questions displayed below.) A local Chevrolet dealership carries the following types of vehicles: Quantity 2 Inventory Items Vans Trucks 2-door sedans 4-door sedans Sports cars SUVA 1 Unit Cost $23,000 17,200 12,200 16,200 33,000 28,400 Unit NRV $21,000 16,200 14,200 19,200 36,000 24,000 Because of recent increases in gasoline prices, the car dealership has noticed a reduced demand for its SUVs, vans, and trucks 3. Prepare necessary entry to write down inventory from cost to net realizable value. (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 Record the adjustment for inventory. Note: Enter debits before credits