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 Quantity Unit Cost Unit NRV Furniture $ 93 $108 Electronics 480 340 288 58 Required: 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.] 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 Electronics Quantity 280 58 Unit Cost $ 93 488 Unit NRV $188 340 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 S 0 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.) View transaction Mat Journal entry worksheet Record the adjustment for inventory. Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View general Journal