Required information [The following information applies to the questions displayed below.) Now that operations for outdoor clinics and TEAM events are running smoothly, Suzie thinks of another area for business expansion. She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure. MU watches are waterproof, so moisture from kayaking, rain, fishing, or even diving up to 100 feet won't damage them. Suzie decides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2025, All watches are sold for $507 each. July 17 July 31 August 12 August 22 Purchased 57 watches for $8,949 ($157 per watch) on account. Sold 47 watches for $23,829 cash. Purchased 47 watches for $7,849 ($167 per watch) cash. Sold 37 watches for $18,759 on account. September 19 Paid for watches purchased on July 17. September 27 Receive cash of $13,200 for watches sold on account on August 22. Purchased 87 watches for $15,399 ($177 per watch) cash. October 27 November 20 December 4 December 8 Sold 97 watches for $49,179 cash. Purchased 114 watches for $21,318 (5187 per watch) on account. Sold 47 watches for $23,829 on account. 2. Late in December, the next generation of multiuse (MUI) watches is released. In addition to all of the features of the MU watch, the MU 11 watches are equipped with a global positioning system (GPS) and have the ability to download and play songs and videos off the Internet The demand for the original MU watches is greatly reduced. As of December 31, the estimated net realizable value of MU watches is only $107 per watch. a. Record any necessary adjusting entry on December 31, 2025, related to this information, assuming Suzie uses a FIFO perpetual inventory system to account for Inventory b. For what amount would MU inventory be reported in the December 31, 2025, balance sheet? c. Prepare an updated gross profit section of a partial income statement occounting for this additional information. Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required C Record any necessary adjusting entry on December 31, 2025, related to this information, assuming Suzie uses a FIFO perpetual inventory system to account for inventory. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) my work mode: This U VALUE DU huyoning, um, naming, EVEN UITY up to luulee luumuye wiem, JUDE VECIDED ( have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2025. All watches are sold for $507 each. July 17 July 31 August 12 August 22 Purchased 57 watches for $8,949 ($157 per watch) on account. Sold 47 watches for $23,829 cash. Purchased 47 watches for $7,849 ($167 per watch) cash. Sold 37 watches for $18,759 on account. September 19 Paid for watches purchased on July 17. September 27 Receive cash of $13,200 for watches sold on account on August 22. Purchased 87 watches for $15,399 ($177 per watch) cash. October 27 November 20 December 4 December 8 Sold 97 watches for $49,179 cash. Purchased 114 watches for $21,318 ($187 per watch) on account. Sold 47 watches for $23,829 on account. 2. Late in December, the next generation of multiuse (MU II) watches is released. In addition to all of the features of the MU watch, the MU II watches are equipped with a global positioning system (GPS) and have the ability to download and play songs and videos off the Internet. The demand for the original MU watches is greatly reduced. As of December 31, the estimated net realizable value of MU watches is only $107 per watch a. Record any necessary adjusting entry on December 31, 2025, related to this information, assuming Suzie uses a FIFO perpetubi Inventory system to account for inventory b. For what omount would MU inventory be reported in the December 31, 2025, balance sheet? c. Prepare an updated gross profit section of a partial income statement accounting for this additional information Answer is not complete. Complete this question by entering your answers in the tabs below. Required A Required B Required C Record any necessary adjusting entry on December 31, 2025, related to this information, assuming Suzie uses a FIFO perpetual inventory system to account for inventory. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) No Date December 31, 2021 Cost of Goods Sold Inventory General Journal Required B> Debit Credit 2.850 2,850 [The following information applies to the questions displayed below.] Now that operations for outdoor clinics and TEAM events are running smoothly. Suzie thinks of another area for business expansion. She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure. MU watches are waterproof, so moisture from kayaking, rain, fishing, or even diving up to 100 feet won't damage them. Suzie decides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2025. All watches are sold for $507 each. July 17 July 31 August 12 August 22 Purchased 57 watches for $8,949 ($157 per watch) on account. Sold 47 watches for $23,829 cash. Purchased 47 watches for $7,849 ($167 per watch) cash. Sold 37 watches for $18,759 on account. September 19 Paid for watches purchased on July 17. September 27 Receive cash of $13,200 for watches sold on account on August 22. Purchased 87 watches for $15,399 ($177 per watch) cash. October 27 November 20 December 4 December 8 Sold 97 watches for $49,179 cash. Purchased 114 watches for $21,318 ($187 pen watch) on account. Sold 47 watches for $23,829 on account. 2. Late in December, the next generation of multiuse (MU II) watches is released. In addition to all of the features of the MU watch, the MU II watches are equipped with a global positioning system (GPS) and have the ability to download and play songs and videos off the Internet. The demand for the original MU watches is greatly reduced. As of December 31, the estimated net realizable value of MU watches is only $107 per watch. a. Record any necessary adjusting entry on December 31, 2025, related to this information, assuming Suzle uses a FIFO perpetual inventory system to account for inventory. b. For what amount would MU inventory be reported in the December 31, 2025, balance sheet? c. Prepare an updated gross profit section of a partial income statement accounting for this additional information Complete this question by entering your answers in the tabs below. Required A Required B Required C For what amount would MU inventory be reported in the December 31, 2025, balance sheet? MU Inventory Desktop 1 New desktop Accounting Cycle Project Saved [The following information applies to the questions displayed below] Now that operations for outdoor clinics and TEAM events are running smoothly, Suzie thinks of another area for business expansion. She notices that a few clinic participants wear multiuse (MU) watches. Beyond the normal timekeeping features of most watches, MU watches are able to report temperature, altitude, and barometric pressure. MU watches are waterproof, so moisture from kayaking, rain, fishing, or even diving up to 100 feet won't damage them. Suzie decides to have MU watches available for sale at the start of each clinic. The following transactions relate to purchases and sales of watches during the second half of 2025. All watches are sold for $507 each. July 17 July 31 August 12 August 22 Purchased 57 watches for $8,949 ($157 per watch) on account. Sold 47 watches for $23,829 cash. Purchased 47 watches for $7,849 ($167 per watch) cash. Sold 37 watches for $18,759 on account. September 19 Paid for watches purchased on July 17. September 27 Receive cash of $13,200 for watches sold on account on August 22. Purchased 87 watches for $15,399 ($177 per watch) cash. October 27 November 20 December 4 December 8 Sold 97 watches for $49,179 cash. Purchased 114 watches for $21,318 ($187 per watch) on account. Sold 47 watches for $23,829 on account. 2. Late in December, the next generation of multiuse (MU II) watches is released. In addition to all of the features of the MU watch, the MU II watches are equipped with a global positioning system (GPS) and have the ability to download and play songs and videos off the Internet. The demand for the original MU watches is greatly reduced As of December 31, the estimated net realizable value of MU watches is only $107 per watch. a. Record any necessary adjusting entry on December 31, 2025, related to this information, assuming Suzie uses a FIFO perpetual Inventory system to account for inventory. b. For what amount would MU inventory be reported in the December 31, 2025, bolence sheet? c. Prepare an updated gross profit section of a partial income statement accounting for this additional information Complete this question by entering your answers in the tabs below. Required A Required B Required C N Prepare an updated gross profit section of a partial income statement accounting for this additional information. GREAT ADVENTURES, INCORPORATED Partial Income Statement For the Year Ended December 31, 2025 Gross Profit