Bower Consulting Company started the period with cash of $25,000, 500 units of inventory with a cost of $20,000 (uses FIFO) , common stock of $20,000 and retained earnings of $25,000. Bower engaged in the following transactions in 2013:
Transactions during 2013
Purchased with cash 50 units of inventory for $2,500
Purchased on account 250 units of inventory for $14,000
Sold 750 units of inventory for $112,500. This was a cash sale
Sold 10 units of inventory for $1,500. This was a cash sale
Made a partial refund for 8 units to the customer who purchased the 10 units in the transaction above.
Information for Adjusting Entries
Bower carries only one type of inventory item. At year end the market value of each unit of inventory was $45 per unit.
Re-evaluate the value of the ending inventory and prepare the necessary journal entry, assuming Bower applies the lower of cost or market rule to individual items

PLEASE HELP WITH JOURNAL ENTRIES