A6 and A1 are connected

6. Once the company determines the Inventory balance under the LIFO method (see A1 above), it must consider the need for an inventory write-down. Star applies the writedown procedure to the inventory as a whole. Information concerning the company's December 31,2023 inventory follows: 1. Star uses the dollar-value LIFO cost method for inventory reporting purposes. Star adopted this method on December 31,2022. The following information pertains to the company's inventory at year-ends 2022 and 2023: Star uses perpetual FIFO for day-to-day bookkeeping purposes and then converts its accounts to the dollar-value LIFO cost method at reporting dates. Give the FIFO-to-LIFO conversion entry required at December 31,2023 . (Assume there was no difference in the FIFO and LIFO amounts at year-end 2022.)