Ivanhee Wis shoppe carries a number of wigs that are made specifically tor people who require them while undergaing medical treatment. They use a perpetual irventory system and the FIFO cost focmula for valuing inventory. The follionirginformation is wailable regardins the inventory on hand at year end, December 31 : Prepare the journal entry required, if arry, to record the adjustiment at vear end iCredit account tities are outomatically indented when the omount is entered Do not indent manwally If no entry is required, select "No Enty" for the account titier and enter ofor the amsunts List debit entry before credit entry