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A company experiences inventory shrinkage and records the proper entry to account for it. As a result of this entry: a) gross profit will

A company experiences inventory shrinkage and records the proper entry to account for it. As a result of this entry: a) gross profit will increase and net income will increase b) gross profit will increase and net income will decrease c) gross profit will decrease and net income will increase d) gross profit will decrease and net income will decrease

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