Question: Rich s Furniture uses the perpetual inventory method At the end

Rich’s Furniture uses the perpetual inventory method. At the end of the year, Rich’s Furniture’s Inventory account had a ledger balance of $83,000. A physical inventory count revealed that the actual inventory on hand totaled $81,000.
Journalize the transaction necessary to adjust the Inventory account at the end of the year.


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  • CreatedApril 29, 2014
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