Late in December, the next generation of muitiuse $($MU II$)$ watches is released. In addition to all of the features of the MU watch, the

MU II watches are equipped with a global positioning system $($GPS$)$ and have the ability to download and play songs and videos off the

a$.$ Record any necessary adjusting entry on December $31,2025,$ related to this information, assuming Suzie uses a FIFO perpetual

Record any necessary adjusting entry on December $31,2025,$ related to this information, assuming Suzie uses a FIFO perpetual

inventory system to account for inventor. $($If no entry is required for a transaction$/$event$,$ select $\text{'}$No$.$ Jou usal Entry Required in the first

RWP$6-1($Algo$)$ Great Adventures Continuing Case Part $2$

Late in December, the next generation of multiuse $($MU II$)$ watches is released. In addition to all of the features of the MU watch, the

MU II watches are equipped with a global positioning system $($GPS$)$ and have the ability to download and play songs and videos off Internet. The demand for the original MU watches is greatly reduced. As of December $31,$ the estimated net realizable value of MU

Internet. The demand for the or$.$ watches is only $$98$ per watch

a$.$ Record any necessary adjusting entry on December $31,2025,$ related to this information, assuming Suzie uses a F$|$FO perpetual

inventory system to account for inventory. b$.$ For what amount would MU inventory be reported in the December $31,2025,$ balance sheet?

c$.$ Prepare an updated gross profit section of a partial income statement accounting for this additional information

Complete this question by entering your answers in the tabs below.

Required $A$

For what amount would MU inventory be reported in the December $31,2025,$ balance sheet?

Great Adventures i

Sold $28$ watches for $$13,944$ on account:

$7$ Receive cash of $$16,200$ for watches sold on account on August $22.$ Purchased $78$ watches for $$13,104($ $$168$ per watch$)$ cash.

Purchased $78$ watches for $$13,104($ $$168$ per watch$)$ cash. Sold $88$ watches for $$43,824$ cash.

Sold $88$ watches for $$43,824$ cash. Purchased $116$ watches for $$20,648$ Sold $38$ watches for $$18,924$ on achn

Purchased $116$ watches for $$20,648($ $$178$ Sold $38$ watches for $$18,924$ on account.

RWP$6-1($Algo$)$ Great Adventures Continuing Case Part $2$

Late in December, the next generation of multiuse $($MU II$)$ watches is released. In addition to all of the features of the MU watch.

MU II watches are equipped with a global positioning system $($GPS$)$ and have the abillty to download and play songs and videos o

Internet. The demand for the orig watches is only $$98$ per watch

a$.$ Record any necessary adjusting entry on December $31,2025,$ related to this information, assuming Suzie uses a FIFO perpetua

Inventory system to account for inventory. b$.$ For what amount would MU inventory b$.$

c$.$ Prepare an updated gross profit section reported in the December $31,2025,$ balance sheet?

Complete this question by entering your answers in the tabs below.

$\backslash$table$[[$Required A$,$Required B $,$ Required C$]]$

Prepare an updated gross profit section of a partial income statement accounting for this additional information.