I need some help

Assume that a Logan Burger restaurant has the following perpetual inventory record for hamburger patties: (Click the icon to view the perpetual inventory record.) At July 31, the accountant for the restaurant determines that the current replacement cost of the ending merchandise inventory is $390. Make any adjusting entry needed to apply the lower-of-cost-or-market rule. Merchandise inventory would be reported on the balance sheet at what value on July 31? Make any adjusting entry needed to apply the lower-of-cost-or-market rule. (Record debits first, then credits, Exclude explanations from journal entries, For situations that do not require an entry, make sure to select "No entry required" in the first call in the "Accounts" column and leave all other cells blank.) Date Accounts Debit Credit Ju. 31 X Data Table Merchandise inventory would be reported on the balance sheet at what value on July 31? Cost of Goods Merchandise Dote Purchases Sold in this case. Logan Burger's balance sheet would report the inventory as follows; Inventory on Hand Jul. 9 400 400 Logan Burger Jul. 72 250 150 Balance Sheet (Partial) JUL 31 300 Current Assets Print Done