ch 6 question 8 part 2

Assume that a Mega Burger restaurant has the following perpetual inventory record for hamburger patties: (Click the icon to wiew the perpetual inventory record.) A. July 31, the accountant for the restaurant determines that the current replacement cost of the ending merchandise inventory is $415, Make any adjusting entry needed to apply the lower-of-cost-or-market rule. Merchandise inventory would be reported on the balance sheet at what value on July 31 ? make sure to select "No entry required" in the first cell in the "Accounts" column and leave all other celis blank.) Data table Merchandise inventory would be reported on the balance sheet at what value on July 31? In this case, Mega Burger's balance sheet would report the inventory as follows