# of unit cost or items sale price July 1 45 Opening balance Purchase $30 July 5 20 $32 July 7 Purchase of July 5 items returned -5 July 10 Sale 45 $40 July 12 Purchase 25 $34 July 17 Sale 20 $50 July 24 Purchase 35 $35 What is the amount of the adjustment that must be made to inventory at the end of the month if the selling price drops to $20? What is the amount of the adjustment that must be made to inventory at the end of the month if the selling price drops to $35