Data table Requirements 1. Journalize the adjusting entry for merchandise inventory, if any is required. 2. Prepare a revised partial income statement to show how Nutritional Foods should report sales, cost of goods sold, and gross profit. Nutrhional Foods reports merchandise irventory at the lower-of-cost-oc-markel. Prior to releasing its financlal statements for the year ended July 31,2025 , Nutritional's proiminary income statement before the year-end adjustments, appears as folows: (Click the icon to vew the preliminary income staternent) Nutritional has detemined that the current replacement cost of ending merchandise imventary is $20,500. Cost is $25,000. Read the Requirement 1. Joumalize the adpusting entry for merchandise invenlory, it any is required. (Recoud debis fint, then credits. Soloct the explanation on the last ine of the foumal enty. For satuations thet do not require an enty, make sure to select "No entry requeed" in the firnt cell in the "Accountif colurnt and leave all other cells blank)