At the beginning of the year, Wildhorse Shipping Ltd$.,$ a company that has a perpetual inventory system, had $$71,500$ of inventory.

During the year, inventory costing $$286,000$ was purchased. Of this, $$33,300$ 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 $$3,410.$ The cost of goods sold

during the year was $$284,400.$ Prepare the adjusting entry that would be required if the inventory count determined that Wildhorse Shipping had inventory with a cost of $$27600$ at the end of the year.