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 in yearend inventory Inventory Furniture Electronics Quantity 220 52 Unit Cost $ 87 Unit NRV $102 310 426 3. Record any necessary adjustment to inventory. (If no entry is required for a transaction/event, selec in the first account field.) View transaction list Journal entry worksheet 1 Record the adjustment for inventory Note: Enter debits before credits Transaction Debit Credit 1 General Journal Coot of Goods Sold inventory