please answer b

At the beginning of the year, Point Claire Shipping Ltd, a company that has a perpetual inventory system, had $55,000 of inventory. During the year, inventory costing $220,000 was purchased. Of this, $26,000 was returned to the supplier and a 5% discount was taken on the remainder. Freight costs incurred by the company for inventory purchases amounted to $2.700. The cost of goods sold during the year was $218,000. (a) D. Your answer has been saved. See score detalls after the due date. Determine the balance in the Inventory account at the end of the year. 24.000 Balance in the inventory account 1 (b) Prepare the adjusting entry that would be required if the inventory count determined that Point Claire Shipping had inventory with a cost of $22,000 at the end of the year. (List all debit entries before credit entries. 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 entero for the amounts.) Account Titles and Explanation Debit Credit Attempts: 0 of 1 used Submit A