Please help and include explanation please!!!

Determine the appropriate journal entry for inventory Oou review the data for inventory on hand on December 31, 2022 for the five products, included in the chart below. The costs to sell the pods is $0.02 / unit. Given this information, you are to determine if a journal entry is required for inventory and at what amount Show your work in the Student Work Area below. \begin{tabular}{lll|} Years & 2022 & -7 \\ Date & Dec & -7 \\ \hline \end{tabular} \begin{tabular}{lrr} Product & Average of Price/Unit & Average of Cost/Unit \\ \hline Columbia & 5.50 & 3.05 \\ Ethiopia & 5.25 & 2.95 \\ Peru & 5.00 & 2.80 \\ Costa Rica & 2.00 & 2.20 \\ Mexico & 1.95 & 2.25 \\ \hline Grand Total & 3.94 & 2.65 \end{tabular}