To prepare ajusting entries and an adjusted trial balance, this information is given:

The ending inventory of merchandise is counted and determined to have a cost of $12,700 - the company uses a perpetual inventory system.
The unadjusted trial balance shows the following:
Merchandise Inventory - Dr. 12,700
Sales - Cr. 80,000
Cost of goods sold - Dr. 57,991

Assuming the company's adjusted balance for Merchandise inventory matches the year end physical count, how would the journal entry be listed?

There is no adjusting entry required if the physical invenotry count matches the account balance.