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The I-Want-To-Dance Company uses the perpetual inventory system and finds that its records indicate 85 ballet skirts are currently in stock costing $50 each. The
The I-Want-To-Dance Company uses the perpetual inventory system and finds that its records indicate 85 ballet skirts are currently in stock costing $50 each. The physical inventory finds that only 81 skirts are actually on hand. What should the Company do to adjust its inventory if it thinks that the difference is due to a theft? O Purchase discount is credited $200. O Purchase discount is debited $200. O Loss on inventory shortage is credited $200. O Loss on inventory shortage is debited $200
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