Principles of Accounting I ACC-201-SAVB Homework: HW CH6 Score: 0 of 33 pts E6-21 (similar to) Altina Blakely & 11/3/18 4:14 PM Save 2013 ( 1 complete) | HW Score: 4 8996, 4 89 of 100 pts Question Help * Eagle Resources, which uses the FIFO inventory costing method has the folloving account Eagle has determined that the current replacement cost (current market value) of the balances at July 31, 2019, prior to releasing the financial statements for the year 31, 2019, ending merchandise inventory is $13,000 July Read thg tesquirements Merchandise Inventory, ending Cost of Goods Sold Sales Revenue 14000 70,000 124,000 Requirement 1 Prepare any adjusting journal entry required from the given information (Record debits first. then credits Select the explanation on the last line of the journal entry For situations that do not require an entry make sure to select No entry required in the first celin the Accounts colinin and leave all other cefls blank ) Date Accounts and Explanation Debit Credit Jul. 31 eids a ck Check Arisw Check