Alnoor business has an inventory of RO 74,500 and RO 129,600 of cost of goods sold in its unadjusted trial balance during the year 2019. The physical inventory count came to RO 71,200. What is the adjusting journal entry to be used to record the above?

a Merchandise inventory RO 129,600 Dr/ Cost of goods sold RO 129,600 Cr

b. Cost of goods sold RO 3,300 Dr / Merchandise inventory RO 3,300 Cr

c. Cost of goods sold RO 71,200 Dr / Merchandise inventory RO 71,200 Cr

d. Merchandise inventory RO 3,300 Dr/ Cost of goods sold RO 3,300 Cr

Answer rating: 100% (QA)

Solution b Cost of goods sold RO 3300 Dr Merchandise inventor... View the full answer