The answers are already there, I got all of them wrong, can anyone explain/dissect how to come up with those values?

Homework: Ch 6 Homework A-Graded Save Score: 1.67 of 10 pts : 5 of 9 (5 complete) ( HW Score: 48.41%, 46.96 of 97 pts SF6-8 (similar to) Assigned Media Question Help 0 Assume that a Nixon BBQ Burger restaurant has the following perpetual inventory record for hamburger patties: (Click the icon to view the perpetual inventory record.) At July 31, the accountant for the restaurant determines that the current replacement cost of the ending merchandise inventory is 5515. Make any adjusting entry needed to apply the lower-of-cost-or-market rule. Merchandise inventory would be reported on the balance sheet at what value on July 31? Make any adjusting entry needed to apply the lower-of-cost-or-market rule. (Record debits first, then credits. Exclude explanations from journal entries. For situations that do not require an entry, make sure to select "No entry required in the first cell in the "Accounts" column and leave all other cells blank.) Date Accounts Debit Credit - X Jul. 31 Cost of Goods Sold 85 i Data Table Merchandise Inventory 85 Date Cost of Goods Merchandise Purchases Sold Inventory on Hand $ 510 $ 510 Jul. 9 $ 210 300 Jul. 22 Jul. 31 280 580 Merchandise inventory would be reported on the balance sheet at what value on July 31? In this case. Nixon BBQ Burger's balance sheet would report the inventory as follows: Nixon BBQ Burger Balance Sheet (Partial) Current Assets Merchandise Inventory. at market value (lower than cost) 515 Print Done S