The Cardoza Products Company€™s inventory record appears below.

The company uses a LIFO cost flow assumption. It reported ending inventories as follows for its first three years of operations:
2006 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $14,000
2007 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11,600
2008 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18,600

Determine if the Cardoza Products Company has reported its inventory correctly. Assuming that 2008 accounts are not yet closed, make any necessary correctingentries.

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Purchases Sales Quantity Unit Cost Quantity 2006. 2007... 2008 9,000 9,500 7.200 $5.60 5.75 5.82 6,500 0,000 6,000