At the beginning of the year, Pina Colada Shipping Ltd., a company that has a perpetual inventory system, had $58,300 of inventory. During the year, inventory costing $233,200 was purchased. Of this, $27,300 was returned to the supplier and a 5% discount was taken on the remainder. Freight costs incurred by the company for inventory purchases amounted to $2,810. The cost of goods sold during the year was $231,600. (b) Your answer is partially correct. Prepare the adjusting entry that would be required if the inventory count determined that Pina Colada Shipping had inventory with a cost of $22,800 at the end of the year. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit Cost of Goods Sold 25115 Inventory 25115 e Textbook and Media List of Accounts