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Ho Designs experienced the following events during Year 1. its first year of operation: 1. Started the business when it acquired $89,000 cash from the
Ho Designs experienced the following events during Year 1. its first year of operation: 1. Started the business when it acquired $89,000 cash from the issue of common stock 2. Paid $38,000 cash to purchase inventory 3. Sold inventory costing $22,500 for $44,000 cash 4. Physicaily counted inventory showing $15,300 inventory was on hand at the end of the accounting period Required a. Determine the amount of the difference between book balance and the actua famount of ibventory as determined by the physical count
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