The following is a list of inventory items for Ducard Company on April 30 , 20 XX . Item Quantity Unit Cost When Acquired Net Realizable Value Shoes 12 $ 42.00 $ 64.00 Sunglasses 23 28.00 35.00 Umbrellas 15 18.00 12.00 T - Shirts 17 8.00 8.00 Hats 28 12.00 10.00 Sandals 9 15.00 19.00 Boots 14 48.00 35.00 Keychains 35 $ 3.00 $ 5.00 Required Determine the current value of the Inventory. Use the lower of Cost or Net Realizable Value to determine the how much inventory should be . Create a journal entry to mark down the inventory. Hint: Use the IF () function for the Lower of Cost or NRV