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Princeton Inc. use perpetual inventory system Princeton has those account balances at October 31, 2017, prior to making the year-end adjustments: BIF (Click the icon to view the year-end adjustments) A year ago, the retrearable value of Princeto's ending inventory was $13,200, which exceeded cost of $12,00. Princeton has determined that the nel resizable value of the October 31, 2017, ending inventory $11,000 Requirement Prepare Princeton Inc.'s 2017 income statement through gross profit to show how the company would apply the own.ol.com and controlabio vale nude to its inventories. Princetonine Income Statement partial For the Year Ended October 31, 2017 Sales revenue Cost of goods sold Year-end adjustments Grosso Cost of Good Sold Sales Revenue Inventory 12.000 End 14.700 70.000 PE Done