Cole's Furniture uses the perpetual inventory method. At the end of the year, Cole's Furniture's Inventory account

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Cole's Furniture uses the perpetual inventory method. At the end of the year, Cole's Furniture's Inventory account had a ledger balance of $163,000. A physical inventory count revealed that the actual inventory on hand totaled $161,800. Journalize the transaction necessary to adjust the Inventory account at the end of the year?

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Financial Accounting

ISBN: 978-0134436111

4th edition

Authors: Robert Kemp, Jeffrey Waybright

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