$[$The following information applies to the questions displayed below.$]$

A company like Golf USA that sells golf$-$related inventory typically will have inventory items such as golf clothing and golf

equipment. As technology advances the design and performance of the next generation of drivers, the older models

become less marketable and therefore decline in value. Suppose that in the current year, Swing $($a manufacturer of golf

clubs$)$ introduces the MegaDriver II$,$ the new and improved version of the MegaDriver. Below are year$-$end amounts

related to Golf USA's inventory.

Record any necessary adjusting entry for the lower of cost and net realizable value.

Note: If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field.

Journal entry worksheet

Record any necessary adjusting entry for the lower of cost and net realizable

value.