The December 31, 2014 inventory of Risen Company consisted of four products, for which certain information is provided below.

		Original	Replacement	Estimated	Expected	Normal Profit
Product	Qty	Cost	Cost	Disposal Cost	Selling Price	on Sales
A	1	$25	$22	$6.50	$40	$8
B	1	$42	$40	$12	$48	$12
C	1	$120	$115	$25	$190	$57
D	1	$18	$15.80	$3	$30	$2.60

If Risen had applied the lower-of-cost-or-market to the entire inventory rather than individual items, prepare the journal entry necessary to record inventory at the lower-of-cost-or-market. Assume that Risen uses the cost of goods sold method (direct method).