College Accounting Chapters 1-13 15th Edition

Exercise 12.2 Objective 12-1 Determining the adjustments for inventory. The Income Statement section of the Johnson Company worksheet for the year ended December 31, 2019, has $199,000 recorded in the Debit column and S215,345 in the Credit column on the line for the Income Summary account. What were the beginning and ending balances for Merchandise Inventory