the name of the account titles and the debits and credits

Sunland's Gift Shop uses a perpetual inventory system and the FIFO cost formula for valuing inventory. The company is now in the process of comparing the cost of its inventory with its net realizable value. The following data are available at Suniand's Gift Shop's year end, December 31 : (a) Your answer is correct Determine the lower of cost and net realizable value of the ending inventory assuming 5unland's Gift Shop applies LCNRV on individualitems. Lower of cost and net realizable value Prepare the journal entry required, if any, to record the adjustment from cost to net realizable value. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before creditentry.)