ABC Company uses a perpetual inventory system and Last-in, first-out (LIFO) method. On December 31, the perpetual inventory records show the following ending inventory of a product: Purchase Date Quantity Unit Cost March 4 28 $4.3 September 13 92 $4.8 December 5 10 $5 However, a year-end physical inventory reveals 96 units on hand. Assuming that the level of materiality is $160, the journal entry to record shrinkage at December 31 includes