A company like Golf USA that sells golf-related inventory typically will have inventory items such as golf clothing and golf equipment. As technology advances the design and performance of the next generation of drivers, the older models become less marketable and therefore decline in value. Suppose that in the current year, Ping (a manufacturer of golf clubs) introduces the MegaDriver II, the new and improved version of the MegaDriver. Below are year-end amounts related to Golf USAs inventory.

Inventory	Quantity	Unit Cost	Unit NRV
Shirts	35	$ 60	$ 70
MegaDriver	15	360	250
MegaDriver II	30	350	420

4. Determine the impact of the adjusting entry in the financial statements. (Amounts to be deducted should be entered with minus sign.)

( Entries for: Revenues, Expenses, Net Income, Assets, Liabilities, and Stockholder's Equity)