I need help with the letter b part. It's based on Chapter 6: Reporting and Analyzing Inventory

Sheffield Corporation sells coffee beans, which are sensitive to price fluctuations. The following inventory information is available for this product at December 31, 2021: Coffee Bean Coffea arabica Coffea robusta (a) Units 10,000 bags 6,200 bags Your answer is correct. Unit Cost $5.60 3.40 Net Realizable Value $5.55 3.50 Calculate Sheffield's inventory at the lower of cost and net realizable value. Inventory at the lower of cost and net realizable value $ 76,580 (b) Prepare any journal entry required to record the LCNRV, assuming that Sheffield uses a perpetual inventory system. (List all debit entries before credit entries. 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 O for the amounts.) Date Account Titles and Explanation Dec. 31 Debit Credit