Rapid Resources, which uses the FIFO inventory costing method, has the following account balances at December $31,2025,$ prior to

releasing the financial statements for the year:

Rapid has determined that the current replacement cost $($current market value$)$ of the December $31,2025,$ ending merchandise

inventory is $$13,500.$

Read the requirements.

in the "Accounts" column and leave all other cells blank.$)$

Requirements

Prepare any adjusting journal entry required from the information given.

What value would Rapid report on the balance sheet at December $31,2025,$

for merchandise inventory?