1 Bonnie Denim Company sells blue jeans. Last year, skinny jeans were fashionable; this year, relaxed-fit jeans are in style. The company has 535 units of skinny jeans with a cost of $25 per unit and a market value of $23 per unit. The inventory also includes 1,160 units of relaxed-fit jeans with a cost of $24 per unit and a market value of $27 per unit. Required: Prepare the journal entry, if any, that is required to adjust the Inventory account. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 03:43:03 Skipped View transaction list Journal entry worksheet A > Record the entry for cost of merchandise sold on account from inventories. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general Journal