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When the physical count of Sheffield Company inventory had a cost of $4480 at year end and the unadjusted balance in Inventory was $4600, Sheffield
When the physical count of Sheffield Company inventory had a cost of $4480 at year end and the unadjusted balance in Inventory was $4600, Sheffield will have to make the following entry: 4600 Cost of Goods Sold Inventory 4600 O Cost of Goods Sold Inventory 120 120 Income Summary Inventory 120 120 Inventory 120 Cost of Goods Sold 120
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