Exercise 5-14 (Algo) Accounting for shrinkage LO P3 At the beginning of the year, Snaplt had $12,800 of inventory. During the year, Snaplt purchased $40,600 of meechandise end sold $34,200 of merchandise. A physical count of inventory at year-end shows $13,800 of inventory exists Prepare the entry mo recond inventory shrinkage. Journal entry worksheet