Question

The Inventory account for Dennis Handy Man Company had a balance of $1 32,100 at the end of its fiscal year. A physical count taken at year end revealed that the value of inventory on hand amounted to $129,200.

Requirements
1. Journalize the adjustment for inventory shrinkage.
2. What could cause the inventory balance according to the physical count to be different from the ledger balance?



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  • CreatedApril 29, 2014
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