Sam's Lawn Maintenance uses a perpetual inventory system. At December 31, the perpetual inventory records indicate the following quantities of a particular mower. A year-end physical inventory, however, shows only 199 of these lawn mowers on hand. In its financial statements, Sam's values its inventories at the lower-of-cost-or-market. At year-end, the per-unit replacement cost of this particular model is $125. Instructions Prepare the journal entries required to adjust the inventory records at year-end assuming the following. a. Sam's uses 1. Average cost. 2. Last-in, first-out. b. Sam's uses the first-in, first-out method. However, the replacement cost of the lawn mowers at year-end is $90 apiece, rather than the $125 stated originally. Make separate journal entries to record (1) the shrinkage loss and (2) the restatement of the inventory at a market value lower than cost. Record the shrinkage loss first