The Williams Company sells TVs.The company uses aperpetual(not periodic) inventory system.The reported inventory balance as of December 31, 20X2 (Williams' fiscal year end) is $28,500. The company did not achieve a properpurchases cutoffat the end of 20X2 for preparation of its financial statements.

In the(MS Excel file), using the description of certain events, compute Williams' correct inventory balance at December 31, 20X2.Also, prepare the necessary correcting journal entry, if any, as of December 31, 20X2 for each item.