TB EX Qu. 6-223 A company reports inventory using... A company reports inventory using the lower of cost and net realizable volue. Below is information related to its year-end inventory: Inventory Unit A Unit B Unit C Unit D Quantity 11 19 13 16 Cast $32 40 22 14 NRV $34 37 26 13 a. Calculate ending inventory under the lower of cost and net realizable value. Ending Inventory b. Prepare the necessary adjusting entry to inventory (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the adjusting entry for inventory. Note: Enter debits before credits. Transaction General Journal Debit Credit View general Journal Record entry Clear entry