can you please answer a & b

a)

b)

Swifty Company asks you to review its December 31,2025 , inventory values and prepare the necessary adjustments to the books. The following information is given to you. 1. Swifty uses the periodic method of recording inventory. A physical count reveals $270,124 of inventory on hand at December 31, 2025. 2. Not included in the physical count of inventory is $15,433 of merchandise purchased on December 15 from Browser. This merchandise was shipped f.o.b. shipping point on December 29 and arrived in January. The invoice arrived and was recorded on December 31. 3. Included in inventory is merchandise sold to Champy on December 30, f.o.b. destination. This merchandise was shipped after it was counted. The invoice was prepared and recorded as a sale on account for $14,720 on December 31 . The merchandise cost $8,453, and Champy received it on January 3. 4. Included in inventory was merchandise received from Dudley on December 31 with an invoice price of $17,975. The merchandise was shipped f.o.b. destination. The invoice, which has not yet arrived, has not been recorded. 5. Not included in inventory is $9,821 of merchandise purchased from Glowser Industries. This merchandise was received on December 31 after the inventory had been counted. The invoice was received and recorded on December 30 . 6. Included in inventory was $12,004 of inventory held by Swifty on consignment from Jackel Industries. 7. Included in inventory is merchandise sold to Kemp f.o.b. shipping point. This merchandise was shipped on December 31 after it was counted. The invoice was prepared and recorded as a sale for $21,735 on December 31 . The cost of this merchandise was $12,098, and Kemp received the merchandise Determine the proper inventory balance for Swifty Company at December 31, 2025. Prepare any correcting entries to adjust inventory to its proper amount at December 31, 2025. Assume the books have not been closed. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. List all debit entries before credit entries.)