0 Data Table Purchases Unit Quantity Cost Total Cost Cost of goods sold Unit Total Quantity Cost Cost d, se Date Nov Nov 3 1 16 $ 13.40 $ 1,541.00 le 13.40 . Nov 7 Inventory on hand Unit Total Quantity Cost Cost 180 $ 13.00 $ 2,340.00 180 $ 13.00 $ 2,340.00 115 $ 13.40 $ 1,541.00 80 $ 13.00 $ 1,040.00 115 $ 13.40 $ 1,541.00 80 $ 13.00 $ 1,040.00 115 S 13.40 $ 1,541.00 130 S 13.45 $ 1,748.50 56 S 13.40 $ 737.00 130 $ 13.45 $ 1,748.50 Nov 13 130 $ 13.45 $ 1,748.50 Nov 18 Nov 25 80 $ 13.00 $ 1,040.00 60 $ 13.40 $ 804.00 55 S 13.40 $ 737.00 55 S 13.45 S 739.75 350 $4,620.75 75 S 13.45 $ 1,008.75 $ 1,008.75 Nov 30 245 $ 3,289.50 75 Print Done High Design Glasses, Inc., had the following FIFO perpetual inventory record for one of its inventory temat November 30, the end of the f Click the icon to view the perpetual record.) physical count of the inventory performed at your's end revealed 068.40 (72 tem of inventory on hand for them Read the requirements low Requirement 1. Joumalize the adjusting entry for inventory any is required (Record Gebits first, the credits Exclude explanations from any umalo the Accounts column and leave all other cells blank. Enter amounts to the nearestent) n mentis . Nor i nt on the first line of Journal Entry Accounts Debit Credit Requirement 2. What could have used the value of the ending inventory based on the physical count to be lower than the amount based on the perpetual inventory record? The difference between the ending inventory value based on the physical count and the value based on the perpetual inventory record could have been used