a) what is the amount of the adjustment that must be made to inventory at the end of the month if the selling price drops to $20

b) what is the amounts of the adjustment that must be made to inventory at the end of the month if the selling price drops to $35

Dundas Wholesale Inc. had the following inventory transactions for one month. The company uses a perpetual system and FIFO. All purchases and sales are on account. # of unit cost or items sale price July 1 Opening 45 balance $30 July 5 Purchase 20 $32 Purchase July 7 of July 5 items returned July 10 Sale 45 $40 -5 July 12 Purchase 25 $34 July 17 Sale 20 $50 July 24 Purchase 35 $35 Use an inventory cost chart and an accounting chart to analyze the above transactions, and then answer the questions below