How do I record this, below, as a journal entry?

m. Merchandise inventory on hand on September 30, 2018 totals $650 thousand.

Gibson Goodall Inc. Below is a balance sheet for Gibson Goodall Inc. as of August 31,2018: Gibson Goodall Inc. Balance Sheet as of August 31, 2018 (in thousands) Assets Cash and cash equivalents Accounts Receivable Inventories Prepaid Rent Total Current Assets $300.00 200.00 350.00 100.00 Liabilities and Equities $100.00 80.00 300.00 Accounts Payable Salaries Payable Note payable $950.00 Total Current Liabilities: $480.0 Property, Plant & Equipment $800.00 Accumulated Depreciation (200.00) Equipment, net $600.00 Common Stock, S1 par APIC $200.00 400.00 Total Non-current Assets: $600.00 Retained Earnings 470.00 $1,070.0 Shareholders' Equity: Total Liabilities & Total Assets S1,550.00 Shareholders' Equity $1,550.0 Here are some facts