Presented below is information related to Hoerl Co. for the month of January 2022. Ending inventory per

Question:

Presented below is information related to Hoerl Co. for the month of January 2022.
Ending inventory per perpetual records .................................. $ 21,600
Ending inventory actually on hand ............................................ 21,000
Cost of goods sold ....................................................................... 218,000

Instructions
Prepare the necessary adjusting entry for inventory.

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...

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