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 Q uantity Inventory Purniture Electronics Unit Cost $ 76 Unit NRV 41 310 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. Quantity Inventory Furniture Electronics Unit Coat $ 76 310 Unit NRY $ 91 2. Calculate ending inventory using the lower of cost and net realizable value Inventory Q uantity Lower of Cost and NRV per unit Ending Inventory 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 110 41 Unit Cost $ 76 310 Unit NRV $ 91 255 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 list Journal entry worksheet Record the adjustment for inventory. Note: Enter debits before credits. Transaction General Journal Debit Credit