! Required information Problem 6-48 Report inventory using lower of cost and net realizable value (L06-6) [The following information applies to the questions displayed below.] A home improvement store, like Lowe's, carries the following items: Inventory Items Hammers Saws Screwdrivers Drills 1-gallon paint cans Paintbrushes Quantity 120 40 120 30 150 170 Unit Cost $ 6.30 9.30 1.30 24.30 4.80 5.30 Unit NRV $ 6.80 8.30 1.90 20.60 4.30 5.80 Problem 6-4B Part 3 3. Prepare necessary entry to write down inventory from cost to net realizable value. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet