Sangar Corp. has the following normal account balances at 12/31/X1 before the year-end determination of its inventory cost using the dollar-value LIFO (DVL) method: Account Amount Inventory (at FIFO costs) $ 1,000,000 LIFO Reserve 50,000 At the end of 20X1, Sangar computes the cost of its ending inventory using the DVL method to be $930,000. Required: Prepare the year-end adjusting entry to adjust inventory to the DVL costs. Date Account Name Debit Credit 12/31/X1 Answer 1 Question 10 Cost of Goods Sold Answer 2 Question 10 20,000 Answer 3 Question 10 LIFO Reserve Answer 4 Question 10 20,000