Wildhorse Corporation had the following items in inventory as at December 31, 2023: Assume that Wildhorse uses a periodic inventory system, and that none of the inventory items can be grouped together for accounting purposes. The opening inventory on January 1, 2023, was $3,200 in total. (a) Prepare the year-end adjusting entries required to adjust to the lower of cost or net realizable value using the direct n (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 tittes and enter o for the amounts. List all debit entries before credit entries.)