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1) The company began 2018 with 175 headphones which had a cost of $46 each. The company uses a perpetual FIFO inventory system to cost

1) The company began 2018 with 175 headphones which had a cost of $46 each. The company

uses a perpetual FIFO inventory system to cost their inventory. Employees physically counted

number of headphones remaining in the warehouse at the end of 2018 indicated there were:

-425 pairs, if your last name starts with A-M;

-525 pairs, if your last name starts with N-Z;

Prepare adjusting entry for 525 pairs:

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