1 Record The Adjustment For Inventory Shrinkage Based On Physical Count The Company Uses The Perpetual Inventory Syst 1 (77.61 KiB) Viewed 12 times
1 Record The Adjustment For Inventory Shrinkage Based On Physical Count The Company Uses The Perpetual Inventory Syst 2 (9.84 KiB) Viewed 12 times
< 1 Record the adjustment for inventory shrinkage based on physical count. The company uses the perpetual inventory system. Note: Enter debits before credits. Date July 31 Record entry General Journal Clear entry Debit Credit View general jou
Telo Company's ledger on July 31, its fiscal year-end, shows merchandise inventory of $37,800 before accounting for any shrinkage. A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $35,900. Prepare the entry to record any inventory shrinkage.
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