I need some help with an adjusting entry. This is the problem:

ABC uses a periodic inventory system, and the ending inventory for each year is determined by taking a complete physical inventory at year-end.A physical count was taken on December 31, 2016, and the inventory on-hand at that time totaled $55,000, which reflects historical cost.Record the adjusting entry for properly recognizing 2016 Cost of Goods Sold.Additionally, ABC adheres to GAAP by recording ending inventory at the lower of cost and net realizable value at a total inventory level. A review of inventory data further indicated that the current retail sales value of the ending inventory is $50,000 and estimated costs of completion and shipping is 10% of retail.Be sure to make an additional adjustment, if necessary, to properly value ending inventory using the Loss and Allowance methodology.For Income Statement presentation purposes, be sure to use the Loss Method for accounting for adjustments of inventory to market value.

This is what I have:

Cost of goods sold 192,000

Inventory 55,000

Purchases 247,000

Loss on write down for inventory 10,000

Allowance to reduce inventory to MV 10,000

Am I missing anything?