Presented below is selected information related to Larkspur, Inc. for the year ended January 31, 2022. Ending inventory per Insurance expense $11,100 perpetual records $23,780 Rent expense 24,050 Ending inventory actually Salaries and wages expense 55,440 on hand 23,280 Sales discounts 11,600 Cost of goods sold Freight-out 217,400 Sales returns and allowances 14,260 6,720 Sales revenue 411,450 (a) Prepare the necessary adjusting entry for inventory. (Credit account titles are automatically Indented when amount is entered. Do no Indent manually. If no entry is required, select "No Entry" for the account titles and enter "O" for the amounts.)