Personally, I wouldn't shrink the database if you don't HAVE to.

It tends to hit a specific size for a reason, and you'll be hit in performance when autogrowth takes place to expand it back to it's natural size.

As for the logs, if it is a problem with size and you don't have log shipping set up or a regular log backup, you can try the "WITH TRUNCATE_ONLY" option in the backup step and then try the shrinkfile.

I normally run;

shrinkfile

log backup

shrinkfile

It should work after this,