Question: Please help !! Presented below is information related to Teal Enterprises. Jan. 31 Feb. 28 Mar. 31 Apr. 30 Inventory at cost $18,000 18,120 20,400

Please help !! Presented below is information related to Teal Enterprises.

	Jan. 31	Feb. 28	Mar. 31	Apr. 30
Inventory at cost	$18,000	18,120	20,400	16,800
Inventory at LCNRV	17,400	15,120	18,720	15,960
Purchases for the month		20,400	28,800	31,800
Sales for the month		34,800	42,000	48,000

Prepare the journal entry required to establish the valuation account at January 31 and entries to adjust it monthly thereafter. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter 0 for the amounts.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 31

Feb. 28

Mar. 31

Apr. 30

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