Help Save & Exit Submit Check my work 07 1 of 2 Required information M7-15 Preparing the Journal Entry to Record Lower of Cost or Market/Net Realizable Value (LCM/NRV) Adjustment (LO 7-4) The following information applies to the questions displayed below) During fiscal 2014, Respberry, Inc. wrote down its RB10 smartphone inventory by approximately $1698,000,000 because its cost exceeded its net realizable value M7-15 Part 1 Book Required: 1. Complete the table below, indicating the account, amount, and direction and show the effects for the above adjustment (Enter any decreases to account balances with a minus sign.) Print rences Assets Liabilities Stockholders' Equity Score answer >