Hello, I am working on my Systems Understanding Aid 9th Edition. I am unsure on how to calculate the ending inventory adjustment for the year end worksheet. The beginning inventory is $101,681. Net purchases and freight-in equals 1,154,357.44. Inventory is counted on the first of the new year before business starts and is 193,392. I added the beginning inventory to net purchases and freight-in and then subtracted the ending inventory to get a COGS value of 1,062,646.44. How do I record this in the general journal and how do I adjust the year end worksheet? What is the final adjusted value of inventory? Do I need to calculate how much inventory the company sold?