Question
Inventory Shrinkage Corona Company's perpetual inventory records indicate that $259,220 of merchandise should be on hand on January 30, 2019. The physical inventory indicates that
Inventory Shrinkage
Corona Company's perpetual inventory records indicate that $259,220 of merchandise should be on hand on January 30, 2019. The physical inventory indicates that $230,710 of merchandise is actually on hand.
Journalize the adjusting entry for the inventory shrinkage for Corona Company for the year ended January 30, 2019. Assume that the inventory shrinkage is a normal amount.
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The Quality Audit A Management Evaluation Tool
Authors: Charles A. Mills
1st Edition
0070424284, 978-0070424289
