Question: Hanion Retail Outlets incorrectly recorded inventory in 2016 Rather than recording ending inventory as $750,000. Hanlon's accounting manager entered $570,000, understating ending inventory by $180,000

Hanion Retail Outlets incorrectly recorded inventory in 2016 Rather than recording ending inventory as $750,000. Hanlon's accounting manager entered $570,000, understating ending inventory by $180,000 Hanlon's controller discovered the error in 2017 after the books had been closed for 2016. Prepare the journal entry necessary to correct the inventory error, ignoring any income tax effects. (Record debits first then credits Exclude explanations from any journal entries. If no entry is required select "No Entry Required on the first line of the journal entry table and leave all remaining cells in the table blank) Account 2017 Correcting Entry

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