Question
When using a perpetual inventory system, the adjusting entry required when merchandise inventory records do not agree with the physical count requires reporting a loss
When using a perpetual inventory system, the adjusting entry required when merchandise inventory records do not agree with the physical count
requires reporting a loss when actual is higher than records.
has an effect on cost of goods sold.
has no effect on cost of goods sold.
requires reporting a gain when actual is lower than records.
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Essential University Physics
Authors: Richard Wolfsonby
3rd Edition Volume 2
978-0321976420
