Required information [The following information applies to the questions displayed below.] les 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 270 57 Unit Cost $ 92 470 Unit NRV $ 107 335 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 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 Q uantity 270 57 Unit Cost $ 92 4 70 Unit NRV $ 107 335 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 Record entry Clear entry View general journal