Question: 7) Dope weed LLC started the year with a normal balance of $73,000 in the Inventoryaccount. During the year, debits totaling $47,500 and credits totaling

7) Dope weed LLC started the year with a normal balance of $73,000 in the Inventoryaccount. During the year, debits totaling $47,500 and credits totaling $60,000 wereposted to the Inventory account. Which of the following statements about theInventory account is correct?The debits and credits posted to the Inventory account caused it to decrease by $12,500.The debits and credits posted to the Inventory account caused it to increase by $12,500.The debits and credits posted to the Inventory account caused it to decrease by $24,500.The debits and credits posted to the Inventory account caused it to increase by $24,500

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