B$.$ Adjusting Entries tab: The following transactions provide information for $3$ adjusting entry transactions that need to be performed as of December $31,2021$ :

$26.$ Adjust for Inventory. The physical inventory count indicated $13,000$ t$-$shirts were on hand. To complete this entry, you will need to:

a$.$ Record the dollar value of the ending inventory shirts $$ Cost of each shirt$)$;

b$.$ Reverse the $2020$ ending inventory $($Remember: Graphix uses a periodic FIFO inventory method$)$;

c$.$ Reverse the Purchases account $($as this is a temporary account$)$ and the purchase returns account $($also a temporary account$)$;

d$.$ Calculate COGS using the above values.

$27.$ Adjust for rent expense.

$28.$ Equipment has a salvage value of $$5,000.$ Straight line depreciation is used, and the life of the equipment is $7$ years.