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Print Item eBook Show Me How Adjusting Entry for Merchandise Inventory Shrinkage Omega Tire Co.'s perpetual inventory records indicate that $621,920 of merchandise should be

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Print Item eBook Show Me How Adjusting Entry for Merchandise Inventory Shrinkage Omega Tire Co.'s perpetual inventory records indicate that $621,920 of merchandise should be on hand on August 31. The physical inventory indicates that $597,040 of merchandise is actually on hand. Journalize the adjusting entry for the normal inventory shrinkage for Omega Tire Co. for the year ended August 31

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