Question: Both periodic inventory and perpetual inventory methods provide ways to account for inventory shrinkage. What are the journal entries to record shrinkage? Discuss why there

Both periodic inventory and perpetual inventory methods provide ways to account for inventory shrinkage. What are the journal entries to record shrinkage? Discuss why there might be shrinkage, accompanying ethical considerations, if any, for making such entries and what might be done to prevent shrinkages.

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