Please answer ASAP

Prepare the journal entries required at December $31,2022$ and $2023,$ assuming that a periodic inventory system and the direct

method of adjusting to NRV are used. $($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 all debit entries before credit

entries.$)$

Date

Account Titles and Explanation

Debit

Credit

Cost of Goods Sold

$($To close beginning inventory$)$

Loss on Inventory Due to Decline in NRV

$($To record ending inventory$)$

$($To close beginning inventory$)$

$($To record ending inventory$)$

Bridgeport Company determined its ending inventory at cost and at lower of cost and net realizable value at December $31,2021,$

$2022,$ and $2023,$ as follows: Prepare the journal entries required at December $31,2022$ and $2023,$ assuming that a periodic inventory system and the direct method of adjusting to NRV are used. $($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. List all debit entries before credit entries.$)$

$($To close beginning inventory$)$

Loss on Inventory Due to Decline in NRV

$($To record ending inventory$)$

$($To close beginning inventory$)$

Loss on Inventory Due to Decline in NRV

$($To record ending inventory$)$