Required information [The following information applies to the questions displayed below.] Nix'tt Company's ledger on July 31 , its fiscal year-end, includes the following selected accounts that have normal balances (Nix'It uses the perpetual inventory system). A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $40,250. Prepare the entry to record any inventory shrinkage. Journal entry worksheet Journal entry worksheet Record the adjustment for inventory shrinkage based on physical count. Note: Enter debits before credits