E 924 Inventory error In 2016, the internal auditors of Development Technologies, Inc. discovered that a $4 million purchase of merchandise in 2016 was recorded in 2015 instead. The physical inventory count at the end of 2015 was correct. Required: Prepare the journal entry needed in 2016 to correct the error. Also, briey describe an).r other measures Development Technologies would take in connection with correcting the error. (Ignore income taxes.)