Craig Ferguson Compary had the followirg account balances at year-end: cost of good5 sold $70,000; inventory $17,300 : operating inventory determines that merchandise inventory on hand is $16.250. (a) 6. Your answer is incorrect. Prepare the adjusting entry necessary as a result of the physicalcount. (if no eatry is requifed, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are autematically indented when amount is entered. D. not Indent manudity Pecord founal entries in the arder mesented in the problem.)