As part of its year end adjusting process, Jasper Industries has compared the $821.100 original cost of its inventory to the current replacement cost of $814,980 and determined that it must make a lower-of-costor-market adjustment. The journal entry for this adjustment should be: O Merchandise Inventory 814,980 Cash 814.980 Merchandise Inventory Cost of Goods Sold 6,120 6120 Cost of Goods Sold 814,980 O Cost of Goods Sold 6,120 6,120 Merchandise Inventory 814.980 OMerchandise Inventory Cost of Goods Sold