S 5-13 Shrinkage L04 Beamer Company's unadjusted ledger on July 31, the end of the fiscal year, includes the following accounts, which have normal balances (assume a perpetual inventory system): Merchandise inventory... Joy Beamer, capital $ 34,800 115,300 Joy Beamer, withdrawals. 4,000 Sales 157,200 Sales discounts 1,700 Sales returns and allowances. 3,500 Cost of goods sold. 102,000 Depreciation expense 7,300 Salaries expense. 29,500 2,000 Miscellaneous expenses. A physical count of the inventory discloses that the cost of the merchandise on hand is $32,900. Prepare the entry to record this information and calculate gross profit. QS 5-13 Shrinkage LO4 Beamer Company's unadjusted ledger on July 31, the end of the fiscal year, includes the following accounts, which have normal balances (assume a perpetual inventory system): Merchandise inventory... Joy Beamer, capital. $ 34,800 115,300 Joy Beamer, withdrawals.. 4,000 Sales.... 157,200 Sales discounts.. 1,700 Sales returns and allowances... 3,500 Cost of goods sold.. 102.000 Depreciation expense... 7,300 Salaries expense.. 29,500 Miscellaneous expenses.. 2,000 A physical count of the inventory discloses that the cost of the merchandise on hand is $32.900. Prepare the entry to record this information and calculate gross profit