TB EX Qu. 6-223 A company reports inventory using... A company reports inventory using the lower of cost and net realizable value. Below is information related to its year-end inventory: a. Calculate ending inventory under the lower of cost and net realizable value. 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.) TB EX Qu. 6-223 A company reports inventory using... A company reports inventory using the lower of cost and net realizable value. Below is information related to its year-end inventory: a. Calculate ending inventory under the lower of cost and net realizable value. 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.)