Marigold Warehouse Store has an August 31 fiscal year end and uses a perpetual inventory system and the earnings approach. An alphabetical list of its account balances at August 31, 2024, follows. All accounts have normal balances. Additional information: 1. All adjustments have been recorded and posted except for the inventory adjustment. According to the inventory count, the company has $54,700 of merchandise on hand. 2. Last year Marigold Warehouse Store had a gross profit margin of 20.6% and a profit margin of 9.0%. Your answer is correct. Prepare any additional required adjusting entry. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.) Marigold Warehouse Store has an August 31 fiscal year end and uses a perpetual inventory system and the earnings approach. An alphabetical list of its account balances at August 31, 2024, follows. All accounts have normal balances. Additional information: 1. All adjustments have been recorded and posted except for the inventory adjustment. According to the inventory count, the company has $54,700 of merchandise on hand. 2. Last year Marigold Warehouse Store had a gross profit margin of 20.6% and a profit margin of 9.0%. Your answer is correct. Prepare any additional required adjusting entry. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List debit entry before credit entry.)