The Barlow Company uses a perpetual inventory system. On August 31, 20X5, its accounts had the following balances relating to Raw Materials inventory: Raw Materials Inventory, at Cost $122, 460 Deduct Allowance for Reduction of Inventory to Market 9, 350 If an analysis of Lower of Cost or Market determines that the Market Value of the Inventory was $115, 850 what entry, if any, is needed? (if none is needed, write no entry in the journal below.) Given the information below Prepare the Cost of Goods Sold Statement for ABC Co. at Jan 30, 2012: Cost of Goods Manufactured $40,000 Finished Goods Inventory June 30 13,000