Presented below is information related to Oriole Company, owned by D. Flamont, for the month of January 2021.

Ending inventory per perpetual records$22,900

Insurance expense$10,900 

Ending inventory actually on hand19,500

Rent expense18,800 

Cost of goods sold212,000

Salaries expense55,000 

Freight out6,200

Sales discounts9,400 

Sales returns and allowances11,900 

Sales378,000 

Required: Prepare the necessary adjusting entry for inventory.