Question: Current Attempt in Progress Crane Company has provided you with the following information regarding its inventory of copper for September and October. Crane uses a

 Current Attempt in Progress Crane Company has provided you with the
following information regarding its inventory of copper for September and October. Crane

Current Attempt in Progress Crane Company has provided you with the following information regarding its inventory of copper for September and October. Crane uses a perpetual inventory system. Assume that during the month of November the company did not purchase or sell any copper inventory and that the NRV per tonne was $535 on November 30 . Is an adjusting entry required at November 30 ? If so, prepare the adjusting entry. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually. List debit entry before credit entry.)

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