Oregon Resources, which uses the FIFO inventory costing method, has the following account balances at May 31, 2025. prior to releasing the financial statements for the year Merchandise Inventory, ending $ 16,500 Cost of Goods Sold 74.000 Net Sales Revenue 120,000 Oregon has determined that the current replacement cost current market value) of the May 31, 2025, onding merchandise inventory is $13,500 Read the requirements OCEAE Requirement 1. Prepare any adjusting Journal entry required from the given information (Record dobits first, then credits. Select the explanation on the last line of the journal entry For situations that do not require an entry, make sure to select "No entry required in the first cell in the "Accounts" column and leave all other calls blank.) Date Accounts and Explanation Debit Credit May 31 Requirements 1. Prepare any adjusting Journal entry required from the information given 2. What value would Oregon report on the balance sheet at May 31, 2025, for merchandise inventory? Print Dono Help me solve the Jall Check answer Oregon Resources, which uses the FIFO inventory costing method, has the following account balances at May 31, 2025. prior to releasing the financial statements for the year Merchandise Inventory, ending $ 16,500 Cost of Goods Sold 74.000 Net Sales Revenue 120,000 Oregon has determined that the current replacement cost current market value) of the May 31, 2025, onding merchandise inventory is $13,500 Read the requirements OCEAE Requirement 1. Prepare any adjusting Journal entry required from the given information (Record dobits first, then credits. Select the explanation on the last line of the journal entry For situations that do not require an entry, make sure to select "No entry required in the first cell in the "Accounts" column and leave all other calls blank.) Date Accounts and Explanation Debit Credit May 31 Requirements 1. Prepare any adjusting Journal entry required from the information given 2. What value would Oregon report on the balance sheet at May 31, 2025, for merchandise inventory? Print Dono Help me solve the Jall Check