Spartacas Inc., which uses the perpetual inventory method, recently had an agency count its inventory of frozen chickens. The agency left the following inventory sheet:

Complete the inventory calculations for Spartacas (items a-d) and provide the journal entry necessary to adjust ending inventory, if necessary. The balance in Inventory before the physical count was $\$ 305.05$

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Type of Merchandise Date Purchased Quantity on Hand Unit Cost Inventory Amount Chicken grade A 2/12/00 30 $5.00 (a) Chicken grade B 2/18/00 16 (b) $54.40 Chicken grade C 2/08/00 (c) $2.50 $60.00 Chicken grade D 2/15/00 46 (d) $52.90