need help woth part d asap
Question 10 of 10 9.17 /10 View Policies Show Attempt History Current Attempt in Progress Sheffield Inc. has provided you with the following information. This company purchases its inventory from a supplier for cash and has only cash sales. Sheffield uses the average cost formula in a perpetual inventory system. Increased competition has recently reduced the price of the product. Date Unit Price Apr. Units 50 1 Unit Cost $78 89 6 8 15 Explanation Beginning inventory Purchases Sales Purchases Sales Purchases $120 110 (130) 120 (120) 20 68 20 102 27 59 (a) Your answer is correct. Prepare all journal entries for the month of April for Sheffield. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Donatindent manually. Round AllM. UMU (c) Your answer is correct. On April 30, Sheffield learns that the product has a net realizable value of $49 per unit. Determine the amount that ending inventory will be valued at on the April statement of financial position. Ending Inventory Valued at $ 2450 e Textbook and Media List of Accounts Altempts: unlimited (d) Your answer is partially correct. (d) Your answer is partially correct. Based on your answer to part (c), determine whether the company should record a journal entry at the end of April and, if so, prepare the entry. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Round answers to 2 decimal places, eg. 1.25. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Debit Credit Account Titles and Explanation Cost of Goods Sold 1390 1390 Inventory e Textbook and Media List of Accounts Attempts: unlimited Submit Answer Save for Later