Cole's Furniture uses the perpetual inventory method. At the end of the year, Cole's Furniture's Inventory account
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Cole's Furniture uses the perpetual inventory method. At the end of the year, Cole's Furniture's Inventory account had a ledger balance of $163,000. A physical inventory count revealed that the actual inventory on hand totaled $161,800. Journalize the transaction necessary to adjust the Inventory account at the end of the year?
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