Iverson Tile Co.s perpetual inventory records indicate that $675,150 of merchandise should be on hand on December
Question:
Iverson Tile Co.’s perpetual inventory records indicate that $675,150 of merchandise should be on hand on December 31, 2010. The physical inventory indicates that $649,780 of merchandise is actually on hand. Journalize the adjusting entry for the inventory shrinkage for Iverson Tile Co. for the year ended December 31, 2010.
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Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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