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14 14. At the end of an accounting period, a physical count of goods indicates that $100,000 of inventory is on hand for resale to
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14. At the end of an accounting period, a physical count of goods indicates that $100,000 of inventory is on hand for resale to customers. The merchandise inventory account on the general ledger (a/k/a T-account) has a balance of $105,000. A possible explanation for this difference is? a. Too much was deducted from the general ledger account for sales during the last month b. Inventory on consignment was included in the physical count c. Freight paid on sales was not accounted for d. Some items have been lost or stolen e. None of the above are adequate explanations Step by Step Solution
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