I need clarification: end inventory: 455,000 fire loss 402,400 surviving inventory: 42,000 damaged surviving inventory 30,000 NRV = 10,600 assume

I need clarification:end inventory: 455,000fire loss 402,400surviving inventory: 42,000damaged surviving inventory 30,000 NRV = 10,600assume periodic/directjournal entry to record loss?my answer (I’m unsure if this correct)beginning Inventory transferCOGS 440,000 Inventory 440,000to record loss?42,000Damaged Inventory 10,600402,400455,000Thanks for any help!

Solution :Date********** Account TitleCost of goods soldInventory Debit$440,000 InventoryDamaged surviving InventoryLoss due to fireCost of goods sold Credit $42,000$10,600$402,400…

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