Adjusting entry for inventory shrinkage Obj. 3 Omega Tire Co.s perpetual inventory records indicate that $3,145,000 of
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Adjusting entry for inventory shrinkage Obj. 3 Omega Tire Co.’s perpetual inventory records indicate that $3,145,000 of merchandise should be on hand on August 31, 20Y4. The physical inventory indicates that $3,113,500 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage for Omega Tire Co. for the fiscal year ended August 31, 20Y4.
AppendixLO1
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Related Book For
Corporate Financial Accounting
ISBN: 9781337398176
15th Edition
Authors: Carl Warren, Jefferson Jones
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