Some of G and Electronics's merchandise is gathering dust. It is now December 31, 2018, wd the current replacement cost of the ending merchandisinvestory is 122,000 below the business's cost of the goods, which was 500,000. Before any adjustments at the end of the period, the company's cost of Good Sold account has a balance of $400.000 Read the res Requirement de Recerca en thee in on the line of the or d e red in the first The y would be * Requirements Accounts and Explanation Debit Credit 1. Ju 2. At what r is the the company report and investory on the 1. Awalte comport e m P6-30A (similar to) Question Help of the ring me nderwentory 122.000 below the business's cost of the goods, which was $80,000. Before Some of G and Electronics's merchandises gathering dust is now December 31, 2016, and the replacement and ments at the end of the period, the company's cost of Good Sold out as a blence of $400,000 Requirement 1. Joumale any required entries (Record for the credits Select the explanation on the lastne of the momentet Forsionat do not entry, make sure to select "No Entry Required in the first in the Account column and leave the cell bank) There are many would be 0 Requirements Date Accounts and Explanation Credit Dec 31 1. Joumalize any required entries 2. At what amount should the company report merchandise inventory on the 1. Al what amount should the company report cost of goods done income 4. Which accounting principle of concept is most relevant to this tion? Print Done