Required information Problem 6-4B 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 Unit Cost 120 $ 6.60 40 9.60 120 1.60 24.60 150 5.10 170 5.60 $ 7.10 8.60 2.20 21.20 4.60 6.10 30 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 Record the adjustment for inventory. Note: Enter debits before credits. Transaction General Journal Debi Debit Credit