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22 A company uses a perpetual inventory system. At year end, the inventory account had a balance of $585,000, but a complete year-end physical
22 A company uses a perpetual inventory system. At year end, the inventory account had a balance of $585,000, but a complete year-end physical inventory indicated goods on hand costing only $580,000. Which account should be credited for $5,000 to record this adjustment? Purchases Accounts payable Cost of goods sold Inventory NEXT > BOOKMARK
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