Spider Inc. adopted the dollar$-$value LIFO method last year. Last year's ending inventory was $$56,400$ with a price index of $1\mathrm{.}0.$ The ending inventory for the current year at year end $($FIFO$)$ costs is $$96,000$ and the price index is $1\mathrm{.}2.$ Based on this information,

Prepare the journal entry required to adjust Spider's ending inventory from a FIFO to a dollar$-$value LIFO basis.