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The beginning inventory of Norcal Wholesalers was $116,000, and the ending inventory is $98,019. What entries are needed at the end of the fiscal period

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The beginning inventory of Norcal Wholesalers was $116,000, and the ending inventory is $98,019. What entries are needed at the end of the fiscal period to adjust Merchandise Inventory? Journal entry worksheet 2 Record an adjusting entry for beginning inventory. Note: Enter debits before credits

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