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Bluebell Company sells blue jeans. Last year, bell-bottom jeans were fashionable; this year, boot cut jeans are in style. The company has 595 units of bell-bottom jeans with a cost of $28.00 per unit and a market value of $26.00 per unit. The inventory also includes 1,220 units of boot cut jeans with a cost of $27.00 per unit and a market value of $30.00 per unit. Required: Prepare the journal entry, if any, that is required to adjust the Inventory account. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the entry for cost of merchandise sold on account from inventories Note: Enter debits before credits. Transaction General Journal Debit Credit Cost of Goods Sold 1,190 Inventory 1,190 Record entry Clear entry View general journal