Assume you determined that the net realizable value for the orange widgets is $775 per unit, while the net realizable value less a normal margin is $745 per unit. Prepare the adjusting entry, in proper form without an explanation, for the proper presentation of orange widgets at December 31, 2011 assuming you examined a vendor invoice dated January 5, 2012 for 500 orange widgets at $750 each for a total of $375,000. The units were received on January 7, 2012.