just answer

Aquarum Trade Mart has recenlly had lackluster sales. The nate of imventory burnover has dropped, and the merchandise is gathering dust. At the same bime, cerrpetition has forced Aquanium's suppliers to lower the prices that Aquarium will pay when it replaces its imventory. It is now December 31, 2021, and the net realzable value of Aquariurr's ending inventory is 565,000 below what the compary actualy paid for the goods, which was $210,000. Before any adpustments at the end of the period, the Cost of Goods Sold account has a balance of $780.000. Read the requirnments Requirement a. What acoounting action should Aquarium take in this stuation? Aguarium shoudd apply the to accourn for inventoriea. The net realizabie value of ending invantory is Aquarimes actual cost, so Aquarium must wite Be inveriory to net reairable value. Requirement b, Give ary joumal entry required. (Recond debts frac, then credis. Exclude explanations trom any joumal entertes. If no antry in required, seibct "No onty required" in me fres coli in the "Aocounts" column and leave all ober fields blank: Requirement c. At whut amourt ohould the company report invertary on the balance theat? Aquatum should reoon inemory on the beance sheot in Requiremect d. Al what amount shodid the compary roport Coat of Goods Sold on the incone statement? Acurim aread repert Cont of Goode thold on the inoome simement at Requirements Tering dust. At the same time, competbon has forced Aquarium's cable value of Aquarium's ending hiventory is $65.000 bolow what the fiold account has a balance of $780,000 a. What acoounting action should Aquartum take in this satuaton? b. Give any journal ehtry required. c. At what asount should the company roport liventary on the batance sheet? d. At what amount should the compary roport Cost of Goods Sold an the inoome statement? Aquanum's actual cast, so Aquarium must wite the e. Discuss the accourting principio or consept that in mout relovint to Eis shuation. Requirament e. At what anourt whoud uwe tompary Noon iwhallory on the badance thec?? Aquartum stevid ropent invertiocy on the balsese shent at is the resemen to acceumit for inrenitary wing