Question: Crystal companys ledger on july 31 its fiscal yearend includes
Crystal Company’s ledger on July 31, its fiscal year-end, includes the following selected accounts that have normal balances (Crystal uses the perpetual inventory system).
A physical count of its July 31 year-end inventory discloses that the cost of the merchandise inventory still available is $40,600. Prepare the entry to record any inventory shrinkage.
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