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Please help me Question 14 When using a perpetual inventory system, the adjusting entry required when merchandise inventory records do not agree with the physical
Please help me
Question 14
When using a perpetual inventory system, the adjusting entry required when merchandise inventory records do not agree with the physical count
- requires reporting a loss when actual is higher than records.
- has no effect on cost of goods sold.
- has an effect on cost of goods sold.
- requires reporting a gain when actual is lower than records.
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Accounting
Authors: Charles T Horngren, Walter T Harrison
9th Edition
132959674, 978-0132569057
