12345 ACME Distribution, Inc. December 31, 2021 Adjusting Entries Continued 3) The company takes a physical inventory count at the end of the year and adjusts their inventory and cost of goods sold if there is a difference between the inventory value determined from the actual count compared to the value in the 6149 general ledger. Use the information below to prepare the adjusting journal entry for inventory. 7 8 10 11 12 12345 Number of units held in the company's inventory at 12/31/2021 based on a physical inventory count: The company uses FIFO to account for its inventory cost. A listing of purchases during the month of December are as follows: 13 14 Date Quantity Purchased Unit Total Cost Cost 15 December 5, 2021 15,000 $ 3.75 $ 56,250 16 December 14, 2021 6,500 $ 4.00 $ 26,000 17 December 21, 2021 7,500 $ 4.50 $ 33,750 18 19 20 Show your calculation below for full credit. Round to the nearest dollar. What is the cost of the company's ending inventory? $ 21 22 23 241 25 26 27 17,728 units What is the cost of the company's ending inventory? $ 21 26 27 28 29 30 31 22222222222233235 24 34 The balance in inventory per the unadjusted trial balance before making any adjustments is: What is the amount of the December 31 adjustment to inventory cost? Complete below the adjusting joumal entry necessary for inventory: 36 37 Account description Debit Credit 38 39 40 41 Post the above entry to the trial balance in the adjustment columns. 42 43 44 45 46 47 48 $0