In 2019 Plummer Corporation acquired the net assets of Singer Company. The purchase price was $510 million. Plummer's annual reports for 2019 and 2020 provide the following information (in millions): 2019 Changes 2020 Nel assets acquired: Cash and receivables $60 S. $60 Inventories (LIFO) 420 (30) 390 Identifiable intangible assets 930 (144) 786 Goodwill 3,000 204 3,204 Current liabilities (300) (300) Long-term liabilities (3,600) Acquisition cost $510 $3D $540 - (3,600) The inventories remain on hand in 2020. The intangible assets are indefinite lived and no impairment has occurred. The change in acquisition cost is an increase in the fair value of an earnings contingency. a. Did the changes in value between 2019 and 2020 occur within the measurement period? Explain. OYes, the value changes occurred during the measurement period. We know this because goodwill is adjusted, implying that the initial acquisition entry has been corrected. ONo, the value changes did not occur during the measurement period. We know this because goodwill is adjusted, implying that the initial acquisition entry has been corrected. OYes, the value changes occurred during the measurement period. We know this because the fair value for cash and receivables has not been adjusted. ONo, the value changes did not occur during the measurement period. We know this because the fair value for cash and receivables has not been adjusted. ONot enough information is presented in the question to determine if the changes in value occur within the measurement period. b. Prepare the entry Plummer made in 2020 to adjust the 2019 acquisition values. Enter your answers in millions. General Journal Description Debit Credit Inventories Identifiable intangible assets