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Current Attempt in Progress Crane Company has provided you with the following information regarding its inventory of copper for September and October. Crane uses a

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Current Attempt in Progress Crane Company has provided you with the following information regarding its inventory of copper for September and October. Crane uses a perpetual inventory system. Assume that during the month of November the company did not purchase or sell any copper inventory and that the NRV per tonne was $535 on November 30 . Is an adjusting entry required at November 30 ? If so, prepare the adjusting entry. (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 the amount is entered. Do not indent manually. List debit entry before credit entry.)

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