Question
A company did a physical inventory count and found $12,225 worth of inventory in the store. Their computerized system shows $13,100. What is the adjusting
A company did a physical inventory count and found $12,225 worth of inventory in the store. Their computerized system shows $13,100. What is the adjusting entry for inventory?
Dr. Cost of Goods Sold
Cr. Cost of Goods Sold
Dr. Inventory Shrinkage
Cr. Inventory Shrinkage
Dr. Merchandise Inventory
Cr. Merchandise Inventory
875
12,225
13,100
25,325
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The Internal Auditing Pocket Guide Preparing Performing Reporting And Follow Up
Authors: J.P. Russell
2nd Edition
1636941303, 978-1636941301
